FG attracted over $2bn fresh investments in power sector – Adelabu

Minister of Power, Adebayo Adelabu, yesterday disclosed that the Federal Government has attracted over $2 billion in fresh investments in the energy sector following the reforms carried out by the present government.

Speaking in Lagos on Thursday at PwC’s Annual Power and Utilities Roundtable 2025 themed “Nigeria’s Multi-Tier Electricity Market: Imperatives for Successful Evolution,” he also said the government has decentralized  and liberalized the sector following the Electricity Act 2023 which was signed into law.

He said the power sector is undergoing a transition from a centralised, monolithic market to a dynamic, multi-tier system in which states can develop and regulate their own electricity markets.

According to him, the decentralised structure is already attracting investors seeking clarity, competition, and transparency.

“However, decentralization also presents risks that we must manage with foresight. These include market fragmentation, high costs of running new regulatory institutions, uneven development among states, liquidity issues inherited from the national market, potential tariff adjustments, political interference, and risks to grid stability if embedded generation is not properly coordinated,” he said.

The Minister urged stakeholders to embrace the ongoing transition and push for bold, innovative solutions to build a decentralised and competitive electricity market.

“Nigeria’s transition to a multi-tier electricity market is not optional, it is necessary. It is the

pathway to a reliable, competitive, and economically viable power sector,” he said.

In his welcome address, Regional Senior Partner, West Market Area, PwC, Sam Abu said the roundtable  offered the opportunity to shape power access for over 200 million Nigerians and millions more across Africa.

According to him, Nigeria is moving from a single centralised system to multi-tier, multiplayer energy ecosystem, one that can unlock competition, innovation and real service.

“But this transition is complex. It requires clear rules, strong regulation, investment and alignment across all levels of government and industry,” he said.

Abu said if the reform succeeds, Nigeria will win as it would translate into more competitive markets  that attract capital,  local decentralized solutions driven by state level involvement, bringing markets closer to customers; better financial sustainability through cost reflective pricing and greater reliability and energy security for homes, businesses and Industries.

To unlock the opportunities, Abu pointed out that regulatory coordination, market liquidity, modern infrastructure, strong state markets and sustainability, must be put at the front burner.

“At PwC, we will continue to work with government, regulators, DISCOs, Gencos, financiers, investors, development partners and private operators to build a strong power business,” Abu said.

The roundtable brought together stakeholders and industry leaders, including Biodun Ogunleye, Commissioner, Lagos State Ministry of Energy and Mineral Resources; Mrs. Rekhiat Momoh, Chief Executive Officer, Eko Electricity Distribution Company Plc (Eko DisCo); Dr. Abba Abubakar Aliyu, Chief Executive Officer, Rural Electrification Agency (REA); and Peter Olowononi, Director, Client Relations, Anglophone West Africa, African Export-Import Bank (Afreximbank).

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