President Bola Tinubu has admitted Nigeria's power sector is in deep trouble. In his Democracy Day address on Friday, he said electricity is a 'democratic dividend' every Nigerian deserves — and that his administration intends to deliver it.

But the president was blunt about what he inherited. He said the sector was plagued by chronic generation shortfalls, unreliable gas supply, weak transmission infrastructure, huge distribution losses, and a metering deficit of over four million customers.

'By 2023, when we came on board, the electricity sector was characterised by chronic generation shortfalls, an unreliable gas supply, and transmission infrastructure so fragile that it couldn't evacuate available power,' Tinubu said.

The numbers paint a grim picture. Nigeria has an installed generation capacity of 13,500 megawatts, but the country generates far less than that. The grid transmits less than what is generated, distributes less than what is transmitted, and collects revenue far below what it needs to stay afloat.

Tinubu said the sector was also weighed down by huge legacy debts — money owed across the generation, transmission, and distribution chain. The result: a system that can't sustain itself.

To fix this, the president pointed to the Electricity Act he signed, which gives states more power to generate, transmit, and distribute electricity within their borders. He also said a Presidential Power Sector Task Force has been set up to tackle the metering deficit.

A key part of the plan is a N4 trillion bond to clear verified legacy debts across the electricity value chain. The president said the bond has already been approved.

The Rural Electrification Agency is also getting support from the World Bank and the African Development Bank to expand off-grid and mini-grid projects in underserved communities, universities, markets, and hospitals.

But for ordinary Nigerians, the reality is harsh. The national grid keeps collapsing. Many homes and businesses have turned to solar systems and generators. But with fuel prices spiking because of the US-Israel war against Iran, even those alternatives are becoming unaffordable.

Tinubu also used the speech to defend his broader economic reforms. He said federation revenues have gone up since the reforms started, giving state and local governments more money for infrastructure, education, healthcare, and security.

He claimed fiscal transparency has improved, revenue leakages have been reduced, and investor confidence has returned. He pointed to growing domestic refining capacity and a 21% increase in non-oil exports over the past year.

'The reforms we are undertaking weren't chosen for ease, but for necessity,' he said.

But the president acknowledged that many Nigerians are still struggling. He said his government is focused on reducing inflation, increasing food production, creating jobs, and improving living standards.

He also highlighted infrastructure projects meant to link producers to markets, and a programme to deploy 10,000 tractors over five years through the National Agricultural Development Fund. More than 1,000 small and medium-sized enterprises have been certified for export, he added.

Tinubu ended on a cautiously optimistic note. 'We are moving from uncertainty to stability,' he said. 'The next phase is about accelerating growth and ensuring the benefits are felt in every home, every community, and every region.'