Professor Barth Nnaji, former Minister of Power, has stated that Nigeria has not financed any major power plant since 2015. Speaking at a recent forum, Nnaji linked the stagnation in the power sector to the discontinuation of a partial risk guarantee mechanism that he introduced during his tenure to de-risk projects and attract private investment.
According to Nnaji, the Azura-Edo power plant, which reached financial closure in 2015, was the last significant project undertaken. He emphasized the need for renewed financial and government support for large-scale power projects to address the country’s persistent electricity challenges.
Nnaji’s remarks have renewed debate on Nigeria’s energy policy and the obstacles facing the sector, as stakeholders call for reforms to stimulate investment and boost power generation.
