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BREAKING NEWS|TAP TO VIEW THE FULL V!DEO, FATHER ARRESTED FOR BEHE4DING HIS 1 YEAH OLD SON AND CAUSING INJURY TO HIS WIFE AND MOTHER IN-LAW.The Bola Tinubu-led government has set aside N1.99 billion to fuel State House generators in 2025, as revealed in the recently proposed budget. ...Tap To Read The Full Story Here | ..Tap To Read The Full Story Here...
This amount is a 5,100% increase from the N37.96 million allocated for the same purpose in 2024 and significantly higher than the N30.68 million in 2023.
Between 2021 and 2024, the government allocated approximately N1.2 trillion to the power sector, which has not translated into consistent or reliable electricity for homes and businesses.
Budget allocations to the power sector have seen steady increases over the years. In 2020, N133.479 billion was budgeted, rising to N306.23 billion by 2022.
Despite this, the industry remains fraught with challenges, including inadequate supply, unreliable infrastructure, and high tariffs, which collectively stifle industrial growth and economic development.
For 2025, the Federal Government plans to fund the Ministry of Power with N2.09 trillion, with N2.08 trillion dedicated to capital projects aimed at infrastructure improvement.
The persistent power outages have severe consequences for the economy. Businesses are burdened with the high cost of self-generated power, forcing many to shut down or relocate abroad.
The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) estimates that businesses in Nigeria lose $29 billion annually due to inadequate power supply.BREAKING NEWS|TAP TO VIEW THE FULL V!DEO, FATHER ARRESTED FOR BEHE4DING HIS 1 YEAH OLD SON AND CAUSING INJURY TO HIS WIFE AND MOTHER IN-LAW.
Experts say the reliance on generators, especially at critical government facilities like the State House, highlights the urgent need for sustainable power solutions...Tap To Read The Full Story Here.
