President Bola Tinubu has approved the National Integrated Electricity Policy, setting in motion a strategic roadmap to unlock $122.2 billion in investments aimed at revamping Nigeria’s troubled power sector.
Ratified at the Federal Executive Council meeting on Monday, the long-anticipated policy—initially proposed in December 2024—aligns with provisions of the Electricity Act 2023. It is designed to attract domestic and international investors while aligning with national development priorities and global energy reform standards.
Key Points:
• Investment Target: $122.2 billion
• Policy Name: National Integrated Electricity Policy
• Approved by: President Bola Tinubu
• Legislative Basis: Section 3(3) of the revised Electricity Act 2023
• Goal: Transform electricity generation, transmission, and distribution with private sector involvement
• Impact: Expected to create jobs, improve energy access, and stabilize grid reliability
