FG steadfast in transforming power sector-Adelabu

The Minister of Power, Chief Adebayo Adelabu on Monday said the federal government has been steadfast in its mission to transform the country’s power sector.
Adelabu gave this assurance during the 9th Edition of Nigeria Energy Forum (NEF 2024) conference in Lagos.
The NEF 2024 theme was entitled: “Energizing Sustainable Industrialisation”.
According to the minister, over the past few years, we have significantly increased our installed generation capacity by bringing new power plants on line and rehabilitating existing ones.
“This has resulted in a substantial increase in the overall power supply to the national grid,” he said.
Adelabu represented by Dr. Sunday Owolabi, Director Renewables and Rural Development, called on stakeholders, government agencies, private sector partners, international organizations and Nigeria people to join them in this endeavour.
Mr Peter Olowononi, Head, Client Relations, Anglo West Africa, Afrexim Bank, said the bank is one of the biggest financial institutions, supporting energy and industrialization in Nigeria.
“We are also financing a lot of the oil and gas companies who produce gas required to fire some of the generation companies in the country.
“We are at the forefront of light up Africa, industrialize Africa and ensure that we are able to improve the economies of the African countries,” he said.
Caroline Eboumbou, the Chief Executive Officer, All On, said the mission of the company is accelerating the closing of access to energy gap in Nigeria with a special focus in Niger Delta.
According to her, this is by increasing access to commercial energy products and services for off-grid communities both under-served and unserved.
Svein Baera, Norway’s Ambassador to Nigeria, said “we are supporting deployment of solar and battery energy for supermarket chain Justrite in Nigeria, and delivering an energy for development programme, for mitigating gas flaring in oil and gas installations”.
Engr Ife Oyedele, the Executive Director, Networks, Niger Delta Power Holding Company (NDPHC) said the company had constructed 10 power plants with total planned capacity of approximately 5,000Megawatts.
“We have undertaken over 121 transmission line and substations projects expansion works,” he said.
The UNDP Resident Representative represented by Muyiwa Odele, Environment Team Leader said “unlocking Nigeria’s potential will require reliable, affordable and equitable access to sustainable energy to fully realize its full economic and industrial development potential”.
Ajibola Adebutu, the Chief Executive Officer J B farms, represented by Seyi Atilary, Deputy Managing Director, said the company is bridging the gap in integrated oil palm farming and agro-processing across the nation.
According to him, the company is helping by gainfully employing youths and supplying homegrown oil palm products for domestic consumption, thereby strengthening the naira.
“We have palm oil mills to turn up the value chain of palm oil and refine palm oil products into other products and also developed a soap business from the refined palm oil product,” he said.
In his remarks, Dr Oluwole Adeuyi, the Chairman, NEF, said the 2024 forum followed successful origination of a landmark 40m US dollars agro-industry financing deal at NEF2023 between Afrexim Bank and a homegrown manufacturer.
“The 2024 forum is building on the success of last year’s story, and we have set a minimum target to originate and mobilize over $100 million US dollars of new financing.
“This is to foster expansion of agro-industry and accelerate solid mineral processing in Nigeria, and the goal is to see our local manufacturers thriving globally,” he said.
Also, Engr. Adekunle Makinde, NEF co-chair said, “the 2024 Tertiary Institutions Student Energy Pitch Contest Finals was supported by All On.”
“First Prize of 1.5 million Naira was awarded to Renewable Clean Cooking Project, Landmark University, Kwara State.
“Power Control Box project from Imo State University won the second prize of 1.1 million Naira. Third prize of 900,000 Naira was awarded to Solar Food Chain project, University of Benin”, he said.