Close Menu
MarketForces AfricaMarketForces Africa
    What's Hot

    DeXe Price Climbs by 28% on Explosive Trading Volume

    June 22, 2026

    Naira Gains as Nigeria’s Foreign Reserves Top $51 Billion

    June 22, 2026

    GTCO, Zenith Bank Drive N1.52trn Gain in Nigerian Exchange

    June 22, 2026
    Facebook X (Twitter) Instagram
    Trending
    • DeXe Price Climbs by 28% on Explosive Trading Volume
    • Naira Gains as Nigeria’s Foreign Reserves Top $51 Billion
    • GTCO, Zenith Bank Drive N1.52trn Gain in Nigerian Exchange
    • Ethereum Price Rises as Morgan Stanley Files Low-Fee Spot ETF
    • Bank of England Launches Stablecoin Rules for UK Users
    • Nigeria’s FX Market Inflows Drop 26% on CBN 6-Week Zero Supply
    • XRP Price Increases as Ripple Seeks to Expand AI Workforce
    • Bitcoin Climbs as Japan Pension Fund Allocates 1% to Crypto
    • Home
    • About Us
    Facebook X (Twitter) Instagram LinkedIn WhatsApp TikTok Telegram
    MarketForces AfricaMarketForces Africa
    Subscribe
    Monday, June 22
    • Home
    • News
    • Analysis
    • Economy
    • Mobile Banking
    • Entrepreneurship
    MarketForces AfricaMarketForces Africa
    MarketForces Africa » MarketForces News » FG Overhauling National Grid to Improve Power Supply –Official

    FG Overhauling National Grid to Improve Power Supply –Official

    Julius AlagbeBy Julius AlagbeOctober 29, 2024Updated:October 29, 2024 News No Comments2 Mins Read
    FG Overhauling National Grid to Improve Power Supply –Official
    Share
    Facebook Twitter LinkedIn Pinterest Email Tumblr Reddit Telegram WhatsApp Copy Link

    FG Overhauling National Grid to Improve Power Supply –Official

    The Federal Government (FG) says it is overhauling the national grid to reduce the frequent disturbances and improve power supply across the country. The Minister of Power, Mr Adebayo Adelabu said this in Abuja on Tuesday at a media briefing.

    Adelabu said that the national grid was over 50 years old with components that were weak, obsolete, and dilapidated, which included the lines and substations with old transformers. He said that most of the towers installed a long time ago were falling due to effect of weather and climate changes, adding that they need continuous maintenance.

    “This grid requires a lot of money to maintain in order to ensure adequate and regular maintenance.

    “So, what we have now, we will continue to manage it and prevent frequent disturbances until we are able to overhaul this infrastructure 100 percent, ‘’ he said. Adelabu said that the Federal Government was not quiet about revamping the entire grid structure as various programmes were being put in place to ensure that old infrastructure was replaced.

    He listed the programmes to include Presidential Power Initiative (PPI) known as the Siemens project which is currently ongoing, the Transmission Company of Nigeria (TCN)’s expansion programme supported by the World Bank and African Development Bank (AfDB) .

    According to him, the pilot phase of the Siemens project has just been concluded and this involved importation of 10 power transformers and 10 power mobile sub-stations.

    He said that phase one of the Siemens project would soon commence, after which the grid performance would be better than what was being experienced presently. The minister said that the improvement witnessed in the power sector was not accidental, adding that many old power transformers were replaced by new ones.

    “ We have also installed and commissioned all the mobile sub-stations where they are needed and that is what contributed to stability being witnessed.

    “So, what we have now, we will continue to manage it and prevent frequent disturbances until we are able to overhaul these infrastructure a 100 per cent, ‘’ he said.

    The minister also appealed to Nigerians to protect power infrastructure, adding that it cost a lot of money. He said that vandalism of the infrastructure was causing hardship on Nigerians. #FG Overhauling National Grid to Improve Power Supply –Official ECOWAS, ECOBANK Unveil Empowerment Programme for Women Traders

    Electricity NERC Power TCN
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Julius Alagbe
    • Website
    • LinkedIn

    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.

    Keep Reading

    DeXe Price Climbs by 28% on Explosive Trading Volume

    Naira Gains as Nigeria’s Foreign Reserves Top $51 Billion

    GTCO, Zenith Bank Drive N1.52trn Gain in Nigerian Exchange

    Ethereum Price Rises as Morgan Stanley Files Low-Fee Spot ETF

    Bank of England Launches Stablecoin Rules for UK Users

    Nigeria’s FX Market Inflows Drop 26% on CBN 6-Week Zero Supply

    Add A Comment

    Comments are closed.

    Editors Picks

    DeXe Price Climbs by 28% on Explosive Trading Volume

    June 22, 2026

    Naira Gains as Nigeria’s Foreign Reserves Top $51 Billion

    June 22, 2026

    GTCO, Zenith Bank Drive N1.52trn Gain in Nigerian Exchange

    June 22, 2026

    Ethereum Price Rises as Morgan Stanley Files Low-Fee Spot ETF

    June 22, 2026

    Bank of England Launches Stablecoin Rules for UK Users

    June 22, 2026
    Latest Posts

    DeXe Price Climbs by 28% on Explosive Trading Volume

    June 22, 2026

    Naira Gains as Nigeria’s Foreign Reserves Top $51 Billion

    June 22, 2026

    GTCO, Zenith Bank Drive N1.52trn Gain in Nigerian Exchange

    June 22, 2026

    Ethereum Price Rises as Morgan Stanley Files Low-Fee Spot ETF

    June 22, 2026

    Bank of England Launches Stablecoin Rules for UK Users

    June 22, 2026

    Subscribe to News

    Get the latest sports news from Dmarketforces Africa about finance, business and tech.

    Advertisement
    Facebook X (Twitter) Pinterest Vimeo WhatsApp TikTok Instagram

    News

    • World
    • Politics
    • Economy
    • Business
    • Opinions
    • Fintech
    • Science & Technology

    Company

    • About us
    • Advertising
    • Classified Ads
    • Contact Info
    • Editorial Policy

    Services

    • Subscriptions
    • Research
    • Due Diligence
    • Newsletters
    • Sponsored News
    • Work With Us

    Subscribe to Updates

    Subscribe to updates from MarketForces Africa, an independent financial news service provider.

    © 2026 MarketForces Africa. All rights reserved.
    • Privacy Policy
    • Terms
    • Accessibility

    Type above and press Enter to search. Press Esc to cancel.