FG’ll open power market to new investors –Osinbajo
’Femi Asu and Tunji Bosun
The Federal Government is creating policies that will open up the nation’s electricity market to new investors in generation, transmission and distribution infrastructure, the Vice President, Prof. Yemi Osinbajo has said.
Osinbajo said on Thursday that resolving the power supply problem had been a top priority of the Federal Government in the past few years.He, however, said the current structure of the market could not deliver on the government’s promises for power for domestic and industrial use, adding, “A substantial change of strategy is being pursued.”
Total power generation in the country stood at 3,586.5 megawatts as of 6am on Thursday, data obtained from the Nigeria Electricity System Operator showed. This confirmed The report on Thursday that the Federal Government was considering repossession of 10 electricity distribution firms as one of the options to rescue the nation’s beleaguered electricity industry.
No comments