metro
FG promises nationwide 20-hour daily power supply by 2027
FG promises nationwide 20-hour daily power supply by 2027
The Federal Government has set an ambitious goal to provide Nigerians with 20 hours of daily electricity by 2027. However, this plan is contingent upon securing adequate investment in the nation’s oil and gas industry, which, according to officials, is currently underperforming.
Olu Verheijen, the Special Adviser to the President on Energy, made this announcement during her speech at the Energy Week in Cape Town, South Africa. The statement was shared by Abiodun Oladunjoye, Director of Information and Publicity at the State House, on Thursday.
“By 2027, Nigeria aims to ensure 20 hours of electricity daily for consumers in urban areas and industrial hubs,” Verheijen revealed.
Verheijen’s remarks come amidst the persistent challenges faced by Nigeria’s national power grid, which continues to suffer frequent collapses, resulting in widespread blackouts. The most recent collapse occurred on Tuesday, marking the 10th such incident in 2024 alone. The Federal Government has cited outdated infrastructure, lack of proper maintenance, and insufficient investment as primary reasons behind these grid failures.
Despite an installed generation capacity of around 12,500 megawatts, Nigeria often produces far less, leaving many regions without stable power supply.
At the Energy Week, Verheijen also highlighted the efforts of President Bola Tinubu’s administration to reform the power sector and extend electricity access to the 86 million Nigerians currently without reliable power. She outlined plans to improve revenue collection, reduce losses through the deployment of seven million smart meters, and expand off-grid solutions to remote areas.
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Verheijen expressed confidence that Nigeria is poised for economic growth, particularly following macroeconomic reforms such as the removal of the petrol subsidy and foreign exchange liberalization. “Under President Tinubu’s leadership, Nigeria is championing reforms to unlock its vast economic potential and create jobs,” she said, urging global partners to invest in Nigeria’s energy sector.
Verheijen also noted Nigeria’s underperformance in oil and gas production, despite possessing vast reserves. She compared Nigeria’s output to that of Brazil, which holds just 30 percent of Nigeria’s oil reserves but produces 131 percent more oil. “Despite our abundant resources, we have underperformed against our potential. Brazil holds only 30 percent of Nigeria’s oil reserves but produces 131 percent more. This is largely due to under-investment,” she remarked.
Since 2016, Nigeria has attracted only 4 percent of Africa’s total oil and gas investments, while less resource-rich countries in the continent have seen higher levels of investment. Verheijen also pointed out that between 2013, when Nigeria’s last deepwater project reached Final Investment Decision (FID), and now, international oil companies have committed over $82 billion to deepwater projects in other countries.
Acknowledging these challenges, Verheijen highlighted President Tinubu’s efforts to enact reforms aimed at transforming Nigeria’s energy sector and attracting more investment. She pointed to the introduction of fiscal incentives for deep offshore and non-associated gas projects, marking the first time Nigeria has introduced a specific fiscal framework for deepwater gas.
In partnership with the National Security Adviser’s office, Verheijen’s team has worked to streamline security measures for the oil and gas sector, as well as to reduce lengthy project timelines and high operational costs. “Our target is to shorten the contracting timelines from an extensive 38 months to just 135 days, while also working to eliminate the 40 percent cost premium that currently exists within the Nigerian petroleum industry,” she noted.
The government’s reforms are also opening up opportunities in midstream and downstream sectors, including investments in compressed natural gas, liquefied petroleum gas, and electric vehicles. These initiatives align with the broader Presidential Gas for Growth Initiative, which aims to reduce the use of petrol and diesel in heavy transport, decentralized power generation, and cooking.
Verheijen also confirmed that over $1 billion has already been unlocked in investments across Nigeria’s energy value chain, with expectations of more major projects by mid-2025. The government is also facilitating the transfer of onshore and shallow water assets to local companies, while supporting the transition of international oil companies to deep offshore and integrated gas ventures.
“We have unlocked over $1 billion in investments across the value chain, and by mid-2025, we expect to see FID on two more projects, including a multibillion-dollar deepwater exploration project, which will be the first of its kind in Nigeria in over a decade,” Verheijen concluded.
FG promises nationwide 20-hour daily power supply by 2027
metro
200,000 repentant terrorists surrender, drop arms in North East – CDS
200,000 repentant terrorists surrender, drop arms in North East – CDS
The Chief of Defence Staff, General Christopher Musa, has disclosed that about 200,000 repentant terrorists have so far dropped their arms and surrendered to troops in the North East, noting that the twin strategy of kinetic and non-kinetic operations was responsible for this achievement.
The CDS made this known at the Security and Justice Symposium organised by the Office of the National Security Adviser (ONSA) in collaboration with the British High Commission, which began at the National Counterterrorism Centre in Abuja on Tuesday.
He disclosed that the theme of the symposium, ”Securing Peace, Ensuring Justice, Protection, Conduct, and Accountability,” speaks volumes about the deluge of security challenges the armed forces and security agencies are facing.
His words, “All the challenges we are facing today have to do with fairness, equity, justice, and accountability.
“There will not be peace without justice, equity, fairness, and accountability. In our operations, we are conducting both kinetic and non-kinetic strategies, which have to a large extent yielded significant successes, and we want to particularly thank the National Security Adviser for his great support in this regard.
“Nigeria is going through so many challenges, and we feel we’re able to address this, and everybody has a sense of belonging. A lot of the security challenges we are having, we are sure, will go down. I want to thank the National Security Advisor for all the support he’s given us, both the kinetic and the non-kinetic.
“We have said it; the kinetic aspect is just less than 30%. The non-kinetic has a lot to play. The non-kinetic, because when you have democracy, people must have the evidence of democracy. As long as it tells people to sleep well and be peaceful, and they are hungry, their children cannot eat, and all this creates more problems.
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“The issue of informants. We have to look at how we tackle this issue of informants. Because these are the people who have created the issue.
200,000 repentant terrorists surrender, drop arms in North East – CDS
metro
Robbers kill two members in shoot-out with Delta police
Robbers kill two members in shoot-out with Delta police
The spokesperson for the police in Delta State, SP Bright Edafe, has confirmed the death of two robbery suspects in the state.
Mr Edafe, who disclosed this to journalists on Tuesday in Warri, said that the deceased were killed from the bullets shot by their gang members.
According to him, the incident occurred on Wednesday at Effurun, Uvwie Local Government Area of the state.
Mr Edafe explained that the deceased were leading the police surveillance team attached to the Ekpan Division to their hideout when they were caught during a shoot-out.
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“The suspects were arrested at Effurun roundabout with a bag containing 57 live cartridges and other items. They were leading the surveillance team to their hideout at Warri/Sapele road when their gang members, on sighting the vehicle of the police team, engaged them in a shootout.During the gun duel, the arrested suspects that were leading the police team were fatally wounded by the gun shot of their colleagues. The two injured suspects were taken to the hospital and later died while receiving treatment,” he said.
Mr Edafe said that items recovered from the hoodlums hideout included: one English pump action gun, one locally made cut-to-size gun and eight live cartridges.
Others were: six iPhones, Smart phones and a Rolex wrist watch.
He said that the command had intensified manhunt on the fleeing members of the gang.
Robbers kill two members in shoot-out with Delta police
(NAN)
metro
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