|photo credit:Sesco photography|
Federal Executive Council (FEC) formally addressed the issue of gas pricing for adequate power supply was among 34 priority projects on Wednesday.
The priority projects were contained in a document presented by the Ministry of Budget and National Planning to the FEC, which was chaired by Vice-President Yemi Osinbajo.
Minister of State for Budget and National Planning, Zainab Ahmed, briefing State House correspondents after the meeting said power is a very important priority area, noting that there is a plan to optimise up to 7,000 megawatts installed capacity and to ensure that the associated infrastructure to transmit and distribute this capacity is in the maximum operational level that is obtainable and also to conclude the privatisation of the National Independent Power Project (NIPP) plants.
According to her, “There is also the priority objective of resolving all issues that have to do with gas pricing. The availability of gas is very key to the availability of power to the nation, so gas pricing is a priority and is currently being addressed and will be finalised and payment will be provided to the gas suppliers who are being owed significant amounts of money. And also there is a plan to conclude the roadmap development, the objective of all of these is to increase investment, and gas supply to the oil industry”.