The Federal Government has approved major investments to strengthen Nigeria’s electricity supply, with a focus on supporting industries and small businesses.
Minister of Power, Adebayo Adelabu, disclosed that the Federal Executive Council (FEC) approved ₦13 billion for power projects in Lagos and Ogun States. The fund will cover compensation for affected landowners, paving the way for smooth project execution.
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He added that the approvals include procurement of new transformers to upgrade the ageing national grid, ensuring more reliable electricity distribution.
Adelabu stressed that the initiative is targeted at stabilizing power supply for manufacturers, a move expected to cut production costs, stimulate industrial growth, and create more jobs.
