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    MarketForces Africa » MarketForces News » FEC Approves ₦68.7bn for Power Projects

    FEC Approves ₦68.7bn for Power Projects

    Julius AlagbeBy Julius AlagbeJuly 31, 2025Updated:July 31, 2025 News No Comments2 Mins Read
    FEC Approves ₦68.7bn for Power Projects
    Adebayo Adelabu, Minister of Power
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    FEC Approves ₦68.7bn for Power Projects

    The Federal Executive Council (FEC) has approved ₦68.7 billion for key electricity projects in universities and teaching hospitals across Nigeria.

    Minister of Power, Adebayo Adelabu, disclosed this after Thursday’s FEC meeting, chaired by President Bola Tinubu at the State House, Abuja.

    He said the projects reflect the government’s resolve to ensure steady electricity supply in vital sectors like health and education.

    The university project involves engineering, procurement, and construction under the Energising Education Programme, led by the Rural Electrification Agency.

    “This initiative aims to ease the energy cost burden on universities and hospitals by providing reliable, good-quality electricity,” Adelabu stated.

    He described the current electricity situation in many institutions as “disturbing” and a threat to effective service delivery.

    “The lack of stable power supply has created crisis situations in some schools and hospitals, with institutions unable to afford local electricity,” he explained

    He added that blackouts and occasional industrial actions have occurred due to unreliable power.

    Adelabu said similar renewable energy projects have already been implemented in some institutions, supported by the World Bank.

    Completed projects include the University of Abuja, University of Niger (12MW solar), and Usmanu Danfodiyo University, Sokoto (8MW).

    Others are the Nigerian Defence Academy (2.6MW) and the Federal University of Agriculture, Makurdi, which also uses solar power.

    The newly approved funding will support electrification in eight additional universities and teaching hospitals nationwide. These are: University of Lagos; Ahmadu Bello University, Zaria; and Obafemi Awolowo University, Ile-Ife.

    Also included are University of Nigeria, Nsukka; University of Ibadan with its University College Hospital; and University of Calabar. The Federal University, Wukari is also among the new beneficiaries.

    Adelabu said these new projects are expected to be completed within seven to nine months.

    “This is another step to ensure our universities enjoy uninterrupted electricity. Our institutions will never be the same again,” he noted.

    The second project approved targets Agricultural Centres of Excellence in rural areas using solar energy technology.

    “This goes beyond lighting homes; it supports productive use of solar-powered equipment in rural areas,” Adelabu said.

    He explained that the aim is to light up rural homes and power agro-processing businesses using solar systems.

    The initiative will deliver solar-powered processing tools to small and micro agricultural enterprises in underserved communities. #FEC Approves ₦68.7bn for Power Projects#

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    Julius Alagbe
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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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