FG targets 80% power needs from renewables, announces deployment of 1.1m meters
By Olakunle Oke
The Federal Government has disclosed that over 80% of Nigeria’s current power generation capacity will be met by the agreements signed at the 2025 Nigerian Renewable Energy Innovation Forum.
Minister of Power, Adebayo Adelabu Adelabu stated that the agreements would add nearly four gigawatts of solar manufacturing capacity annually.
Speaking at the 2025 Nigerian Energy Forum (NEF), Adelabu also announced that the Ministry had secured about N700 billion from the Federation Account Allocation Committee (FAAC) to finance the deployment of 1.1 million electricity meters across the country by December 2025.
According to Adelabu, the initiative forms part of the Presidential Metering Initiative (PMI) a comprehensive programme designed to close Nigeria’s metering gap, strengthen revenue assurance, and enhance transparency in the electricity supply chain.
He explained that the PMI complements the 3.2 million meters being procured through the World Bank’s Distribution Sector Recovery Programme (DISREP), positioning Nigeria to bridge its metering deficit within the next five years.
The minister further revealed that the government is leveraging bilateral funding and development finance to attract private sector investment and expand electricity access, particularly in underserved communities, schools, hospitals, and public institutions.
He noted that over the past two years, more than $2 billion had been mobilised through key programmes, including the World Bank’s DARES, the NSIA’s RIPLE, and the JICA Fund, which are all aimed at accelerating renewable energy deployment and improving access to reliable power.
Adelabu also highlighted that tariff reforms had significantly improved supply reliability, reduced industrial energy costs, and boosted sector revenue from N1 trillion in 2023 to N1.7 trillion in 2024, with projections to exceed N2 trillion by 2025.
He disclosed that President Bola Tinubu had approved a N4 trillion bond to settle verified debts owed to generation companies and gas suppliers, in addition to introducing a targeted subsidy plan to protect vulnerable consumers.
Reiterating the government’s commitment to collaboration, Adelabu assured that the Federal Government would continue to partner with the private sector to unlock stranded generation capacity and build a sustainable power future for Nigeria.
“Through sustained investment, innovation, and strong partnerships, we can power Nigeria’s journey toward a brighter, more resilient energy future,” he said.