President Bola Tinubu has defended his administration’s economic and power sector reforms, stating that access to reliable electricity is a “democratic dividend” that every Nigerian deserves.

In his Democracy Day address, Mr. Tinubu acknowledged the persistent challenges in the electricity sector but asserted that ongoing reforms are designed to address years of underinvestment, infrastructure deficits, and financial instability.

“Electricity is a democratic dividend we owe every Nigerian. We intend to deliver it,” the president declared.

Mr. Tinubu outlined that his administration inherited a power sector plagued by chronic generation shortfalls, unreliable gas supply, weak transmission infrastructure, significant distribution losses, and a metering deficit exceeding four million customers.

He noted that by 2023, the sector was characterized by generation shortfalls, a fragile transmission infrastructure unable to evacuate available power, and revenue collection far below sustainability levels.

Despite substantial investments in generation infrastructure, low plant availability, gas supply constraints, maintenance issues, and aging grid infrastructure continue to hinder effective electricity delivery. Nigeria's national grid experiences intermittent collapses, forcing many to rely on alternative power sources like solar systems and generating sets.

To tackle these issues, Mr. Tinubu stated he signed the Electricity Act, which grants states greater authority in generating, transmitting, and distributing electricity within their jurisdictions.

He also highlighted the Presidential Power Sector Task Force's mandate to address the metering deficit and its approval to raise a N4 trillion bond to clear verified legacy debts across the electricity value chain.

Additionally, the Rural Electrification Agency, with support from the World Bank and the African Development Bank, is expanding electricity access through off-grid and mini-grid projects in underserved areas.

Economic Reforms and Hardship Mitigation

Beyond the power sector, President Tinubu defended broader economic reforms implemented since May 2023, deeming them necessary for fiscal stability, improved public finances, and attracting investment.

“The reforms we are undertaking were not chosen for ease, but for necessity,” he stated.

According to the president, federation revenues have seen a significant increase, providing state and local governments with more resources. Fiscal transparency has improved, revenue leakages have been reduced, and investor confidence has returned, leading to increased investments in various sectors.

Mr. Tinubu also pointed to growing domestic refining capacity as a factor strengthening Nigeria’s energy security and reducing reliance on imported petroleum products.

Despite these positive developments, the president acknowledged that many Nigerians continue to face economic hardship. His administration remains focused on reducing inflation, increasing food production, creating jobs, and improving living standards.

Ongoing infrastructure projects aim to connect producers to markets and stimulate economic activity. The National Agricultural Development Fund is deploying 10,000 tractors over five years, and over 1,000 SMEs have been certified for export, with non-oil exports growing by 21% in the last year.

“We are moving from uncertainty to stability. The next phase is about accelerating growth and ensuring the benefits are felt in every home, every community, and every region,” he concluded. “We believe that democracy must be felt in the pocket.”