The Nigerian government has stated that it requires $10 billion in private investment over the next 5 to 10 years to achieve a 24-hour electricity supply.
This was revealed by the Minister of Power, Mr. Adebayo Adelabu, during a courtesy visit by Dr. Jobson Ewalefoh, Director-General of the Infrastructure Concession Regulatory Commission (ICRC). The meeting was announced in a statement on November 13 by ICRC’s Acting Head of Media and Publicity, Mr. Ifeanyi Nwoko.
Adelabu emphasized that the government alone cannot shoulder the $10 billion cost due to competing needs in other sectors. “We need private sector funding to make this possible, while still ensuring government ownership and interest,” he said. “This is where ICRC plays a key role. The best approach is through public-private partnerships and concessions.”
