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Funding freeze stalls Nigeria’s $800m power plan - BUSINESSDAY
Nigeria’s ambitious Presidential Power Initiative (PPI) has been starved of funding, with the federal government executing just 3.66 percent of its 2025 capital budget for the project. Analysts say the shortfall will entrench blackouts and choke economic growth. Data from BudgIT’s analysis of the federal government’s 2024 budget performance shows that the PPI, which was launched in February 2024 with an $800 million commitment to strengthen transmission capacity and ultimately deliver 25,000MW by 2025, has “struggled to meet its targets,Nigeria’s ambitious Presidential Power Initiative (PPI) has been starved of funding, with the federal government executing just 3.66 percent of its 2025 capital budget for the project.
Analysts say the shortfall will entrench blackouts and choke economic growth. Data from BudgIT’s analysis of the federal government’s 2024 budget performance shows that the PPI, which was launched in February 2024 with an $800 million commitment to strengthen transmission capacity and ultimately deliver 25,000MW by 2025, has “struggled to meet its targets,
