The Federal Government has pledged to raise electricity access across Nigeria to more than 80 per cent within five years as part of efforts to address the country’s energy crisis and improve industrial competitiveness.

The Minister of Power, Joseph Tegbe, disclosed this during a presentation titled “Industrialisation and Regional Competitiveness: The Role of Power” at the Nigeria Economic Summit Group event in Lagos.

The minister also set a three-year target for closing the gap between installed and available electricity generation capacity.

He said the government would work towards reducing Aggregate Technical, Commercial and Collection losses to below 16.92 per cent within three years, in line with the target of the Nigerian Electricity Regulatory Commission.

According to Tegbe, the government’s strategy includes strengthening major transmission corridors, particularly the Lagos, Enugu-Port Harcourt and Abuja-Kaduna-Kano routes.

He said improving transmission infrastructure, expanding electricity access and increasing the reliability of power supplied to businesses and households were central to the government’s electricity-sector reforms.

The minister said the reforms were aimed at providing Nigerian industries with reliable and affordable electricity, enabling them to compete more effectively under the African Continental Free Trade Area.

He added that the power-sector reforms were also aligned with President Bola Tinubu’s ambition of transforming Nigeria into a $1tn economy, stressing that reliable electricity remained critical to achieving the target.