FG loses ₦120bn on 132kV Ikorodu–Sagamu power corridor annualy – Tegbe

By Onu Okorie

Minister of Power, Joseph Tegbe, has revealed that losses on the 132kV Ikorodu–Sagamu power corridor reached as much as 100 megawatts by 2026, resulting in an estimated loss of ₦120 billion within a year.

Tegbe stated this during a high-level meeting with industrial customers on the corridor following concerns over significant discrepancies between electricity supplied and the energy accounted for by market participants.

Those in attendance included the Managing Director/Chief Executive Officer and Executive Directors of NISO, representatives of the Transmission Company of Nigeria TCN managing directors of Ibadan Electricity Distribution Company and Ikeja Electric, as well as representatives of companies operating along the corridor.

Speaking further, the Minister assured industries operating along the 132kV Ikorodu–Sagamu power corridor of sustained electricity supply while warning that the Federal Government will take strong action against energy theft, meter tampering, and other activities that undermine the power sector.

The Ikorodu–Sagamu corridor has emerged as a major industrial hub that serves some of Nigeria’s largest electricity consumers. However, enhanced monitoring by the Nigerian Independent System Operator NISO through technology-based systems has revealed anomalies in energy consumption and loading patterns since 2024.

Also, at the engagement, Tegbe said the government’s priority is to ensure industries receive adequate electricity to support production and investment. He stressed, however, that reliable supply must be accompanied by responsible consumption and accurate payment for energy used.

“We must know where the power is going and what is compromising it,” the minister said, calling for a transparent, scientific, and fair investigation into the discrepancies.

He further warned that the government would not tolerate meter tampering, interference with energy measurement systems, manipulation of consumption data, or any other form of energy theft that deprives the electricity market of legitimate revenue. “Every consumer must be responsible for its actions and consumption,” he said.

The minister’s intervention comes amid ongoing efforts by the Federal Government to strengthen accountability and financial discipline across Nigeria’s electricity value chain while maintaining a stable operating environment for industries.
He urged all stakeholders to cooperate fully in resolving the outstanding issues, noting that the long-term sustainability of the power sector depends on accountability from every participant.