Africa needs $40bn to bridge power deficit – Alison-Madueke

12 May 2012, Sweetcrude, ADDIS ABABA – Africa needs $40 billion annually to bridge its power-supply deficit, Nigeria’s Petroleum Minister, Diezani Alison-Madueke, has said.

She said at the World Economic Forum on Africa in Addis Ababa, Ethiopia’s capital, that there was a $30 billion funding gap that governments could fill by making the oil and gas projects more “bankable” and ensuring “securitisation” for private equity.

“Access to low-cost funds are critical in bridging this gap,” she added.

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