FG pegs power sector investment gap at $10bnÂ
The Federal Government says it will collaborate with the private sector in raising a portion of the $10bn needed to ensure the provision of consistent and reliable electricity across the country. This initiative is part of the government’s broader strategy to address the country’s chronic power supply challenges and is expected to span a period of five to ten years. This formed the crux of the deliberation when the Director-General of the Infrastructure Concession Regulatory Commission, Dr Jobson Ewalefoh paid a courtesy visit to the Minister of Power, Adebayo Adelabu, in Abuja. A statement by the acting Head of Media and Publicity at the ICRC, Ifeanyi Nwoko, on Wednesday said the duo agreed that in view of the funding and technical requirement needed to advance the power sector in Nigeria, it had become imperative to seek private sector input through Public Private Partnership in co-financing and providing expertise that will ensure optimal performance of power infrastructure. Last week, the power minister ordered the immediate replacement of aged equipment as part of the recommendations to stop the incessant collapse of the national grid.
Punch
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