The Federal Government has said with the ongoing power sector reform, the country will generate 10,000 megawatts of electricity before the end of the year.
The Permanent Secretary, Ministry of Power, Dr. Godknows Igali, stated this in an interview with journalists in Abuja on Friday.
He also said that at least $600m had been invested in Independent Power Projects across the country.
Igali, who put the current power generation at over 4,500MW, said that by the time all the IPPs became functional, the country would generate over 10,000MW.
He stated, “At the moment, we have over 4,500MW going out and it has been increasing.
“We can only grow better from this level. We are looking at well close to 10,000MW before the end of the year by the time all the NIPPs come on stream, towards the end of this year.”
Igali said by the time all the IPPs became operational, electricity supply to major cities would increase from 16 hours to 24 hours.
He described last week’s Presidential Power Reform Transaction signing ceremony as a demonstration of political commitment to the sector by the present administration.
Igali said the investment processes in the sector were transparent, adding that the amounts the companies needed were published.
The permanent secretary said, “The companies were required to pay 25 per cent; some of them are prepared to pay 100 per cent.
“But from the information we got form the BPE, we have almost received $600m.”
He said two of the IPPs, which had got to the completion stage, would soon come on board.
Igali said that the Federal Government had invested heavily in the power sector.
He, therefore, urged Nigerians to guard against vandalism of electricity installations.
The permanent secretary described 2013 as a year of consolidation of investments in the sector.
He said with a combined generation capacity of the privatised companies, NIPPs and IPP projects, Nigeria would soon join the league of global players in the power sector.
He said, “We were looking at when power availability was eight hours or even less than that. Now, we have been able to cross over from eight hours to 12 hours or even more than that. We now have over 16 hours of power supply.
“It is a gradual process and it is time for Nigerians to begin to appreciate staff of the PHCN, who through many years, have maintained the integrity of the system, working under difficult moments to keep the system going; but there is some improvement.”