Nigeria requires N1.89tr to revamp power sector

25 September 2012, Sweetcrude, ABUJA – THE Nigerian government says about N1.89 trillion worth of investment is required to turn around the country’s problematic power sector.

Head of Service of the Federation, Alhaji Isa Bello Sali, disclosed this, Monday in Abuja at the launch of the National Power Training Institute graduate skill development programme.

He said the required funds will cover investments in four major areas – generation, transmission, distribution and alternative energy.

According to Sali, the expenditure aims at increasing generation, transmission and distribution capacity, in order to provide adequate and sustainable power for industrial growth and national development.

It is also aimed at intensifying rural electrification efforts in a more efficient manner and achieving optimal mix using the most appropriate technology, he said.

Sali stated that in order to achieve these objectives, the the government would create a deregulated and competitive electric power sector to attract foreign and local investments.

He maintained that with these objectives, only the best would be attracted to work in the sector.

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  • This investment can only be attracted to the sector in good time if the government sticks religiously to the privatisation programme and if an atmosphere conducive for investment to thrive is created and sustained over time.

  • Alabi Ade Israel via Facebook

    But this money is there ? And is going to be profitable

  • A blatant lie and attempt to change the goal line. Please tabulate what has been sunk into the sector and how this was arrived at. Liars, liars, liars:-):-):)

  • Abeg enough of all these stories. Is taking too long on the proposed privitilisation of the PHCN.