Hope for Improved Power Supply
Nigerians have been grappling with persistent power outages in recent weeks, but President Bola Tinubu has expressed optimism for a change in the near future. During the National Convention of the All Progressives Congress (APC) held in Abuja on Friday, Tinubu addressed the concerns surrounding electricity supply.
Commitment to Electricity Reform
The President acknowledged the struggle with lower power generation that has led to ongoing outages but assured the public that a turnaround is in the works. He stated, “I assure you, many of you lamenting the problem of electricity and power; we are paying attention to that.”
He emphasized that improvements are on the horizon, saying, “Electricity will become better, and we assure you there will be opportunities and progress in our industrialisation.”
Planned Infrastructure Enhancements
Reflecting on future advancements, President Tinubu announced plans to inject approximately 1,500 megawatts into a new grid corridor through the Grid Asset Management Company. He remarked, “The impact of our programmes is visible, tangible, impactful, and measurable—not mere rhetoric as some opposition elements like to suggest. We are moving from survival mode to stability.”
Facing Challenges Head-On
Since taking office in 2023, President Tinubu has implemented several reforms, including the unification of the exchange rate and the removal of fuel subsidies. While these actions have faced criticism from opponents, who argue they have led to public hardship, Tinubu emphasized that reform can be a challenging journey.
“Fellow compatriots, since assuming office, our government has remained focused on delivering on our mandate to the Nigerian people despite a complex global economic and political environment. Today, I can assure you that we are on the right track,” he stated.
Encouraging Economic Signs
In his address, Tinubu highlighted the improving landscape of investor confidence, telling attendees, “Our oil and gas sector has once more become attractive to foreign investment following our reforms.” He noted that Nigeria’s recent Eurobond issuance was oversubscribed by 400%, indicating growing trust from international markets. Moreover, he proudly announced that Nigeria has exited the financial ‘grey list,’ marking a significant step towards regaining global financial credibility.