According to Vanguard, President Bola Tinubu has criticized the state of Nigeria's energy sector, highlighting the country's disappointing electricity generation of just 4.5GW despite its vast size. Speaking during the inauguration of a 31-member Presidential Economic Coordination Council at the Council Chamber, Presidential Villa Abuja, Tinubu emphasized the need for innovative solutions to address the nation's economic challenges. He stressed the critical role of public-private partnerships in driving these reforms.
"We have the challenge of energy security in Nigeria," Tinubu stated. "We need to work together to improve our oil and gas sector, and we must also increase electricity generation and distribution throughout the country. It is so shameful that we are still generating 4.5GW of electricity."
Tinubu outlined the government's commitment to increasing oil production to two million barrels per day in the coming months. He also expressed determination to remove all barriers to investment in the energy sector to enhance competitiveness.
In addition to energy reforms, Tinubu announced measures under the National Construction and Household Support Programme aimed at stabilizing the economy, boosting job creation, and ensuring economic security. The initiatives under the Economic Stabilization Programme include efforts to secure energy supplies, focusing on power, oil, and gas.