President Bola Tinubu has expressed disappointment in Nigeria’s current electricity generation capacity, stating that it is shameful for a country of Nigeria’s size to be generating only 4.5GW of electricity. Speaking at the inauguration of the Presidential Economic Coordination Council in Abuja, Tinubu emphasized the need for innovative solutions to the country’s economic challenges, including energy security.
The President also set a target to increase oil production to two million barrels per day within the next few months and promised to remove entry barriers to investments in the energy sector. He urged the council to work together to improve the oil and gas sector and increase electricity generation and distribution throughout the country.
Tinubu’s call for increased electricity generation and oil production is seen as a move to address Nigeria’s energy crisis and boost economic growth. The country has struggled with power outages and fuel shortages, which have hindered economic development. The President’s commitment to improving the energy sector is a positive step towards addressing these challenges.
The Presidential Economic Coordination Council is tasked with providing recommendations to the President on economic policy matters. The council comprises 31 members, including ministers, economists, and industry experts. With the council’s support, President Tinubu is determined to transform Nigeria’s economy and improve the lives of its citizens.
