The Federal Executive Council (FEC) has green lit significant funding to modernise Nigeria’s power infrastructure, aiming to boost electricity supply and fuel industrial growth. Minister of Power Adebayo Adelabu announced approval of four key projects, including a N13 billion compensation payout for the Lagos Transmission Industrial Project backed by a $238 million JICA loan.
This project will enhance stable power delivery to the Lagos–Ogun industrial corridor, supporting manufacturers with reliable electricity to drive economic growth and job creation. Additionally, FEC approved the procurement of 14 high-capacity transformers worth $34 million and N5.2 billion to replace aging, overloaded grid equipment nationwide, improving grid stability and efficiency.
Adelabu highlighted the importance of continuous maintenance and modernization for a stable power supply that serves homes, businesses, and industries across Nigeria. This marks a promising step in the government’s power sector transformation agenda, emphasising local industry empowerment and reduced import dependency.
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