FG to Set up Committee on Drop in Power Supply-Minister.
The Minister of Power, Mr Adebayo Adelabu says the Federal Government is to set up a committee to resolve power blackouts in some parts of the country. Adelabu said this in a statement posted on his official X account after a meeting with Electricity Distribution and Generation Companies on Friday in Abuja.
“I have decided to form a committee involving all stakeholders. Together, we will work on recommendations to resolve these issues and ensure a more reliable and consistent power supply for our citizens.
“Yesterday, I had crucial discussions with power Generating Companies (GenCos) and Distribution Companies (DisCos) to address the ongoing issue of blackouts in parts of our country. Power supply during the yuletide improved, but unfortunately we have experienced setbacks in the New Year.
“After investigations, it is clear that the main cause of poor power supply is the low supply of gas to GenCos, ‘’ he said. I visited facilities in Olorunshogo, Ogun State, and Omotosho, Ondo State to understand the challenges firsthand,“he said.
The minister said that resolving the issue of gas supply was top priority in the ministry of power agenda. Adelabu said that a plan had also been established to initiate discussions with the Minister of State for Petroleum Resources, regarding collaboration and to emphasise the importance of prioritising gas to power.
He said that during the meeting indebtedness to GenCos by Nigeria Bulk Electricity Trading Company (NBET) was also addressed.
“ While acknowledging the sector’s liquidity challenge, we are working on validating the debt and determining a fair resolution.
“I emphasised the importance of GenCos establishing contractual arrangements with gas suppliers to ensure a steady gas supply.
“Recognising concessions may be needed, I assure you that we are committed to working on this to stabilise the power sector. To tackle the gas supply and liquidity challenges, ‘’he said. Banks Face Risks over 24hrs FX Positions Sell Down
Adelabu said that the commitment of the ministry of power in addressing challenges affecting power supply was unwavering.
“We understand the impact on citizens and our goal is to swiftly resolve the issues of gas supply, indebtedness, and overall sector stability.
“Your patience is appreciated as we work, collaboratively towards a brighter, more reliable energy future for Nigeria, ‘’he said.
FG to set up committee on drop in power supply-Minister.
