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The Federal Government of Nigeria has said the sector requires additional $10bn
- The funding will close the critical distribution infrastructure gap
- FG actively seeking funding for the sector
The Federal Government (FG) has said, the power sector will require $10 billion to close critical distribution infrastructure gaps. This was made known by the Special Advisor to the President on Infrastructure, Mr. Ahmed Rufai Zakari. He said the FG is actively seeking various funding sources for the sector.
“We need rapid accelerated funding in the distribution sector. The distribution sector is the closest to the consumer and we like to say that if the power sector doesn’t work for the citizens, then it doesn’t have any purpose”, he said. Speaking further, Mr. Zakari stated, “If you look at what we’re doing, I think the assessed gap is about $10 billion and we’ve come up with multiple schemes to rapidly infuse funding into that segment of the value chain”.
Mr. Zakari also warned that following the efforts of the FG, any Distribution Company that failed to perform effectively will lose its License. “But I will assure you that any Disco that fails to perform with all the measures that have been taken to support them will lose their licence and we’ll find investors that are better equipped to manage it”, he said.