Tegbe sets out power grid plan, says ₦1.23tn of ₦3.3tn sector debt paid

Power Minister Joseph Tegbe has laid out a plan to steady the national grid, grow transmission capacity and pull fresh money into the sector, saying the emphasis must now move from writing reforms to showing results Nigerians can feel.

He spoke at the opening of the Nigeria Energy Leadership Summit and Exhibition 2026 at the Landmark Centre in Lagos. The event runs from October 27 to 29 under the theme “Strengthening Power Delivery Through Execution, Coordination and Performance.”

Tegbe said the goal is measurable improvement in supply, in how the system performs and in whether the electricity market can sustain itself.

Three corridors, four priorities

The plan rests on four priorities: strengthening energy zones, improving the sector's liquidity and finances, getting more out of existing assets, and building infrastructure for future demand.

Three economic corridors will get priority attention: Lagos–Ogun; Benin–Enugu–Port Harcourt; and Abuja–Kaduna–Kano.

The idea, according to the minister, is to line up generation, transmission, distribution readiness and known demand within each corridor so that power actually reaches homes, businesses and factories.

He listed the problems in the way: constrained gas supply, transmission lines stretched beyond their capacity, losses on distribution networks and debts piled up across the industry. None of these, he said, can be fixed by one part of the value chain acting alone.

On losses, Tegbe pointed to the Presidential Metering Initiative (PMI), the Distribution Sector Recovery Programme (DSRP) and the Meter Acquisition Fund (MAF) as the vehicles already in motion.

On money, he said government has paid ₦1.23 trillion of an estimated ₦3.3 trillion in legacy liabilities, and is working to close leakages so fresh debts do not build up.

For the ordinary Nigerian, the stakes are direct: unreliable power raises the cost of running a shop, a workshop or a small factory, and many businesses spend heavily on fuel for generators.

Tegbe tied the reforms to President Bola Tinubu's Renewed Hope Agenda, saying the end goal is stronger industrial output, business growth, investment and jobs.

What happens next

The summit runs until October 29, bringing energy companies, technology providers and other stakeholders together to showcase solutions and look for investment across the power value chain.

The roadmap builds on the Electricity Act 2023, which Tinubu signed in June 2023 to replace the 2005 reform law and set rules for the post-privatisation market.

In March 2026, the Federal Government said the reforms had drawn $2 billion in investment and cut liabilities to ₦146 billion, and that 16 state electricity markets had been activated.

In April 2026, consultancy PwC said the reforms will only succeed with clearer regulation and better coordination between federal and state authorities.