President Bola Tinubu says reforms introduced in Nigeria’s power and energy sectors are helping restore investor confidence and improve economic growth across the country.
The President made the disclosure in a statement released to commemorate his third anniversary in office, where he highlighted developments in electricity, oil and gas, telecommunications and renewable energy.
Tinubu acknowledged that Nigeria’s power sector has struggled for years due to debt, poor investment and infrastructure challenges.
However, he stated that his administration has continued implementing measures aimed at strengthening electricity generation, transmission and distribution.
Tinubu Promises Improved Electricity Supply
According to the President, the government is addressing long-standing issues affecting the power sector through investments in infrastructure and policy reforms.
He said efforts are ongoing to clear legacy debts, expand transmission facilities and strengthen the national grid.
Tinubu also noted that renewable energy projects are receiving increased attention as part of efforts to improve electricity access across the country.
The President stressed that stable electricity remains essential for industrial growth, job creation and economic development.
Oil and Gas Sector Attracts New Investments
Tinubu also stated that reforms in the oil and gas industry have started attracting fresh investments from international energy companies.
According to him, the long-delayed NLNG Train 7 project is nearing completion and is expected to increase Nigeria’s gas production and export capacity.
He added that improvements in local refining capacity are helping strengthen the country’s energy security.
The administration believes ongoing reforms will help expand domestic gas utilization and support industrial activities nationwide.
Telecom Sector Records Gradual Recovery
The President further stated that the telecommunications sector is gradually recovering after years of operational challenges and declining investment.
He disclosed that telecom operators are now expanding infrastructure, improving network coverage and recruiting more Nigerian professionals.
Tinubu noted that improved digital connectivity would help strengthen economic competitiveness and support innovation across different sectors.
According to him, expanding digital access remains important for business growth and national development.
Government Targets Long-Term Economic Growth
The President maintained that ongoing reforms across the power, telecom and energy sectors are designed to create a stronger foundation for economic recovery.
He added that improved infrastructure and increased private sector investment would help drive industrialization and expand economic opportunities.
Tinubu assured Nigerians that the administration would continue implementing policies aimed at improving productivity and attracting more investments into the economy.
