Mr Babatunde Fashola, the Minister of Power, Works and Housing, said that the Federal was making efforts to ensure steady power supply in the country. Fashola said this at the 25th Monthly Power Sector meeting on Monday in Uyo. He said that the power sector recovery programme put in place by the ministry and other stakeholders in the power sector was beginning to yield results.
The minister said that the Federal Government had secured the World Bank approval for 486 million dollars Transmission Company of Nigeria transmission expansion funding. “Progress is being made with the same bank for the Rural Electrification and Distribution Expansion Funding. Clearly, our implemental power initiative is well underway, some jobs are manifesting and the promise of steady power is real. If we persevere, I am certain that we will witness uninterrupted power, which is the final destination of our journey.’’
The minister said that the Power Sector Recovery Programme (PSRP), policies, actions and programmes in the sector were meant to solve the power sector problems. He said that the policies, programmes and actions were delivering results.
FG urged to allow complete private sector participation in the power sector
Mr Adekunle Sofunde, Chairman, Solatek Engineering Ltd, urged the government to hands-off the operations of the power sector to private investors for a more business competitive drive. Shofunde said that such would a decision would allow Nigeria’s power sector to compete favourably with other countries.
He said that the government should only regulate and not be involved in running power operations, adding that the sector could perform better if solely managed by the private sector. According to him, it is disappointing that an economy of over 190 million generates less than 10,000mw and distributes even less.