Nigeria Targets 277GW Power Capacity by 2060 in Major Energy Overhaul Plan

(Joseph Tegbe. photo by The Lagos Voice)

Minister of Power, Joseph Tegbe, has announced that Nigeria plans to increase its installed electricity capacity to 277 gigawatts by 2060 as part of efforts to drive industrial growth, reduce energy poverty, and achieve net-zero emissions.

Tegbe made this known while speaking at the LCCI Renewable Energy Outlook Conference 2026 in Lagos, where he outlined that the country’s energy transition strategy would rely on renewable energy, natural gas, and private sector investment to strengthen the power sector.

He noted that although Nigeria currently has over 13,000MW of installed generation capacity, less than half is reliably supplied to consumers, leaving businesses with no choice but to depend on expensive generators.

According to the minister, reforms under the Electricity Act 2023 have empowered states to regulate electricity independently, with about 20 states already passing electricity laws and 12 advancing regulatory control transfers from the Nigerian Electricity Regulatory Commission, NERC.

Tegbe also disclosed that the government has expanded transmission infrastructure through new transformers and completed projects that increased grid capacity, while a $1.16 billion grid digitalisation programme is nearing completion.

He added that achieving Nigeria’s energy transition goals could save approximately $121 billion in fuel costs but would require an additional $10 billion in annual investment.

Natural gas, backed by the country’s vast reserves of 202 trillion cubic feet, is expected to serve as a transition fuel while renewable energy capacity continues to grow.