The Minister of Power, Joseph Tegbe, has called on local and international investors to support the Federal Government’s ongoing power sector reform agenda aimed at making Nigeria’s electricity industry commercially viable, sustainable and attractive to investment.
Tegbe made the call on Tuesday while speaking at the Project Hoover Series II Investor Forum held in Abuja, where he emphasized the critical role of private capital in transforming the Nigerian Electricity Supply Industry (NESI).
According to the minister, reliable and stable electricity supply remains the foundation for sustained economic growth, industrial expansion and national productivity, noting that the Federal Government is implementing reforms in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
He stated that the administration’s reform measures are already reshaping the power sector by creating a more transparent, competitive and investment-friendly environment capable of attracting long-term financing and strategic partnerships.
Tegbe urged investors to view the Project Hoover Series II offering as more than a conventional fixed-income investment, describing it as an opportunity to partner with the government in driving industrial growth, infrastructure development and economic transformation.
The minister explained that strengthening the electricity value chain would unlock opportunities for manufacturers, small and medium enterprises, technology companies and other productive sectors of the economy that depend heavily on reliable power supply.
He further assured stakeholders that the Federal Government remains committed to policies that will improve market efficiency, enhance revenue recovery, strengthen regulatory oversight and build investor confidence across the power sector.
Industry participants at the forum noted that increased private sector participation and sustained reform implementation would be crucial to addressing Nigeria’s electricity challenges, expanding generation and distribution capacity, and supporting the country’s broader economic development objectives.
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