At a meeting with members of the Organised Private Sector (OPS) in Lagos ahead of the 2023 general elections, then All Progressives Congress candidate Asiwaju Bola Ahmed Tinubu spoke eloquently about how he would tackle the systemic and institutional problems that have bedevilled Nigeria’s power sector for more than five decades.
He specifically identified estimated billing as a major burden on households and businesses. He promised to solve the problem, along with other associated challenges in the power sector, so that Nigerians can have a stable and reliable electricity supply.
His exact words at the event: “Whichever way, by all means necessary, you will have electricity, and you will not pay for estimated bills anymore. A promise made will be a promise kept. If I don’t keep the promise and I come for a second term, don’t vote for me, unless I give you adequate reasons why I couldn’t deliver.”
Some recent public commentary has reproduced the campaign pledge without its concluding qualification: that should he fall short, he would owe Nigerians an adequate explanation before seeking their support for a second term. A fair assessment of the pledge should consider the full statement alongside the administration’s record since 2023. This record should be assessed against measurable improvements in electricity supply, metering, infrastructure and market stability.
While fixing the power sector crisis remains unfinished, the President is working consistently to deliver on his promise to Nigerians, and his commitment to face the challenges head-on has never diminished.
Within two weeks in office, President Tinubu signed the Electricity Act, 2023 on June 9. With the new Electricity Act, President Tinubu effectively liberalised and deregulated the power sector, moving it away from the Exclusive List so that the states, as subnationals, can participate in power generation, distribution, and transmission. Lagos, Enugu, Abia, Ekiti, Oyo, Kaduna and Niger have started taking advantage of the law to maximise the benefits by setting up their own electricity regulatory agencies and driving private capital into their states.
President Tinubu took on the over N6 trillion legacy debt that had accumulated from 2015 to 2025. He started a Presidential Metering Initiative to close the over 7 million Metering gap. His administration significantly aligned the tariffs to cost to restore liquidity to the electricity market. He also put in place a system to protect low-income households while investment in substations and grid expansion continues.
In the last three years, over 1.5 million customers have been metered under the Presidential Metering Initiative. The Rural Electrification Agency has connected universities, hospitals, and rural communities to solar power. The government has unveiled plans to modernise the Osogbo Grid Control Centre, built over 60 years ago and build an East-West super grid.
The administration created a N4 trillion bond programme to settle verified legacy debts to 21 power generating companies (Gencos) and gas companies (Gascos).
The first and second tranches of the bond programme have raised over N1.2 trillion to settle part of the N4 trillion verified legacy debt. President Tinubu has repositioned the power sector and reduced market risk for future investment. The impact of this intervention is becoming evident in Gencos’ ability to make new investments to upgrade power plants. Just a few days ago, Geregu Power Plc announced investments in new Power Transformers to enhance operations at the Geregu 1 Power Plant. Other firms are making similar investments.
President Tinubu inherited many power-sector initiatives, including the Presidential Power Initiative (PPI), which his predecessor, late President Muhammadu Buhari, started. Upon assuming office, President Tinubu reviewed the existing agreement and signed an Acceleration Agreement in December 2023 to enable FGN’s PPI and the German partners to move quickly to execute projects in the transmission network grid. By December 2024, FEC approved the contract for the first batch of 5 TCN substations in key load centres to be upgraded to enhance electricity supply to industrial and private consumers in the areas. These projects are now being completed and will be commissioned before the end of the administration’s first term.
In addition, in June 2026, the Federal Executive Council approved the contract for the 2nd batch of projects to build eight new substations and upgrade 4 existing ones in targeted load centres. Power project implementation requires equipment that is a long-lead item and thus cannot be achieved overnight.
President Tinubu quickly identified that unlocking the power sector requires resolving commercial challenges: Operators need to charge cost-reflective tariffs, while electricity must remain affordable for most of the population. Marrying these two contrasting objectives requires careful planning and policy formulation. A first step was creating Service Bands with different tariffs to improve the financial viability of the Distribution companies and improve cash flow in the sector. This has also reduced the government’s financial burden related to tariff subsidies. The administration will continue to explore ways to improve the commercial situation of the power sector while protecting access to electricity for the less privileged in society.
Fixing the electricity market and power sector is ongoing work.
President Tinubu has not deviated an inch from his commitment. As he seeks Nigerians’ mandate for a second term in office, he will proudly present his scorecard in the power sector and clearly tell Nigerians what remains to be done.
Dele Alake
Spokesperson
APC Presidential Campaign Council
November 1, 2026
