Nigeria's energy market huge, attractive - Onuigbo urges investors

  • 📰 DailyPostNGR
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 59%

Business News News

Business Business Latest News,Business Business Headlines

Sam Onuigbo, the Southeast representative on the governing board of the North East Development Commission (NEDC), has called on foreign and local

According to NAN, Onuigbo disclosed this recently after the 2023 Africa Climate Summit’s Parliamentarians Dialogue.

He expressed worry that over 40 per cent of Nigerians still do not have access to electricity, while he was optimistic that the recently signed Electricity Act 2023 would revamp the country’s power sector. He said: “Over 40 per cent of Nigeria’s estimated 223 million population do not have access to electricity. With the country possessing abundant raw materials to generate renewable energy, all that is needed is the technology to service the ready market.

“The act has liberalised the energy industry and made it attractive, competitive, and decentralised. And the speed with which the President assented to the Electricity Act 2023 shows his commitment to revolutionising the energy industry.” DAILY POST recalls that the Electricity Act 2023 was signed into law by President Bola Ahmed Tinubu in June and is expected to serve as a legal framework for growth in the power industry.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 11. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tinubu secures $3bn steel investment for Nigeria | The Guardian Nigeria NewsPresident Bola Ahmed Tinubu has successfully attracted a monumental 3 billion US dollars investment pledge from Indian investors to boost the steel industry in the country.
Source: GuardianNigeria - 🏆 1. / 94 Read more »