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The federal government has called on local and international investors to deepen their investments in Nigeria’s power sector to support economic and industrial growth.
The Minister of Power, Joseph Tegbe, made the call in a keynote address delivered at the Project Hoover Series II Investor Forum in Abuja on Tuesday.
Mr Tegbe said reliable electricity remained central to Nigeria’s economic transformation, stressing that sustainable economic growth could only be achieved through a commercially viable electricity market.
The minister said ongoing reforms by the present administration were laying the foundation for a financially sustainable and investment-driven power market capable of supporting the country’s industrial growth.
”The administration of President Bola Tinubu is implementing far-reaching reforms under the Electricity Act, 2023, to reposition the Nigerian Electricity Supply Industry (NESI) into an investment-grade sector.
”The reforms include promoting competition in the electricity market, empowering state governments to participate in electricity regulation, and expanding transmission infrastructure.
”Accelerating renewable energy deployment; strengthening regulatory certainty; and improving governance across the industry’s value chain,” he said.
The minister also said the reforms were already changing investors’ perception of Nigeria’s power sector but acknowledged that unresolved historical financial obligations had continued to discourage fresh investments.
He recalled that the N501 billion Series 1 issuance launched earlier in 2026 was oversubscribed, describing it as a demonstration of investors’ confidence in the federal government’s reform agenda.
“Our destination is clear—a financially sustainable, investment-led electricity market that powers Nigeria’s industrial renaissance.
”Therefore, I encourage you to see this offering beyond a mere fixed-income instrument. It should be viewed as an opportunity to partner with the federal government in writing the next chapter of our economic story.
”I urge investors to view the latest offering as more than a fixed-income instrument but as a partnership with the federal government in rebuilding the nation’s electricity sector,” Mr Tegbe said.
He commended the collaboration between the Ministry of Power and the Ministry of Finance and Coordinating Ministry of the Economy.
He described the power sector reform as a critical component of Nigeria’s broader economic reform programme.
He further commended the Office of the Special Adviser to the President on Oil and Gas for coordinating key stakeholders.
Mr Tegbe also acknowledged the contributions of the Nigerian Bulk Electricity Trading, the Debt Management Office, financial advisers and transaction partners for developing the investment framework.
He reaffirmed the government’s commitment to restoring the commercial foundations of the electricity industry.
Georgianna Schroeder Read More