Nigeria needs $10bn investment to achieve 24-hour power supply

The Minister of Power, Adebayo Adelabu, disclosed this when the Director General of the Infrastructure Concession Regulatory Commission , Dr Jobson Ewalefoh, paid him a visit in Abuja on Wednesday. According to him, the Nigerian government alone cannot solve the backlog of challenges facing the country’s power sector, which is why it is calling for private partnerships.

reports that in the past months, Nigeria's national grid had collapsed at least twelve times, which plunged the country into darkness. On Tuesday, the Economic and Financial Crimes Commission, EFCC, blamed corruption by contractors in Nigeria's power sector for the incessant National Grid collapse.

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.

Nigeria needs $10bn investment to achieve regular electricityMr Adelabu said that the government alone could not afford the $10 billion when other critical sectors needed funding.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

Nigerian govt rejects Shell’s plan to sell Nigeria onshore oil businessThe NUPRC approved four other other divestment applications but rejected Shell's.
Source: PremiumTimesng - 🏆 3. / 78 Read more »

FG seeks private sector support to bridge $10bn funding gap in power industryThe federal government has announced plans to bridge the $10 billion funding gap needed to ensure consistent electricity supply across the country over the next five to 10 years.
Source: thecableng - 🏆 2. / 80 Read more »