Nigeria’s 2024 Budget Allocated N340 Billion Towards Power Sector Infrastructure Improvement

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CurrentReport blog In a recent development, Femi Gbajabiamila, Chief of Staff to President Bola Tinubu, announced a significant allocation of N340 billion in the 2024 budget dedicated to enhancing infrastructure within Nigeria’s power sector. This announcement was made during the commissioning of two units of 20MVA injection substations in Surulere, Lagos.

Representing President Tinubu at the event, Senator Wasiu Sanni Eshinlokun emphasized Tinubu’s unwavering commitment to enhancing electricity supply across the nation.
Gbajabiamila highlighted ongoing efforts by the Tinubu administration to engage with stakeholders within the power sector to tackle the various challenges hindering stable electricity distribution.

Addressing concerns such as energy theft, estimated billing, and the safeguarding of power infrastructure, Gbajabiamila stressed the importance of community involvement in protecting power facilities. He underscored that access to reliable electricity is not merely a privilege but a fundamental right essential for driving productivity, fostering innovation, and enhancing citizens’ quality of life.

Moreover, Gbajabiamila outlined President Tinubu’s broader agenda, including initiatives to alleviate hardships faced by Nigerians. These initiatives encompass wage awards for workers, financial support for small and medium-sized enterprises (SMEs), student loans, unemployment benefits, and various social security programs aimed at improving living conditions nationwide.

Echoing this commitment to power sector development, Governor Babajide Sanwo-Olu, represented by Commissioner Biodun Ognleye, reiterated the state government’s dedication to collaborating with stakeholders to ensure stable power supply.

Sanwo-Olu expressed optimism that within the next two years, significant progress would be made in providing electricity to areas currently plagued by darkness.

 

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