The Nigerian government has announced that $10 billion in investment is needed for the power sector over the next five to ten years in order to achieve a 24-hour electricity supply.

Adebayo Adelabu, the Minister of Power, made this statement on Wednesday, October 13, in Abuja.

He emphasized that the government cannot address the country’s power sector challenges on its own, stressing the importance of private sector partnerships.

“Achieving a 24-hour power supply within 10 years requires a funding commitment of about $10 billion, which the government cannot provide alone. Therefore, we must collaborate with the private sector through Public-Private Partnerships (PPPs), while still maintaining government interest,” he said.