The Federal Government has set a target of 6,500 megawatts (MW) of electricity supply by December 2026 as part of efforts to improve power availability, strengthen the national grid and deliver more reliable electricity to consumers and businesses.

Minister of Power, Joseph Tegbe, disclosed this on Wednesday at the launch of the Renewable Asset Management Company (RAMCO), established by the Ministry of Finance Incorporated (MOFI), the Rural Electrification Agency (REA) and the Infrastructure Corporation of Nigeria (InfraCorp).

Tegbe said the government’s priority goes beyond increasing generation capacity, stressing that reliability and sustainability of electricity delivery are equally important.

According to him, RAMCO will initially manage publicly financed renewable-energy assets but its asset-management model will eventually be extended across the entire energy sector.

The minister said the government is conducting technical audits across three major energy zones and corridors to assess the condition of transmission infrastructure, including ageing insulators, conductors and transmission towers.

He noted that some of the infrastructure has been in service for about 42 years, making replacement and rehabilitation necessary to improve grid resilience.

Tegbe also disclosed that the government is working on a sustainable repayment framework to address liquidity challenges in the electricity market and optimise existing power assets by connecting them directly to industrial clusters and economic corridors.

He said mini-grids would be deployed in areas without transmission infrastructure, while the long-term strategy would combine grid electricity with embedded generation, distributed renewable energy, storage systems and interconnected or isolated networks.

The minister described the approach as a shift from simply building infrastructure to ensuring that public investments are properly financed, maintained, upgraded and sustained.

He said the ultimate objective is to ensure that Nigeria’s power infrastructure continues to generate value while providing reliable and sustainable electricity to Nigerians.