- PDP presidential candidate Atiku Abubakar proposes an infrastructure fund to solve Nigeria’s power issues.
The presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, has stated as part of his plans for the sector if elected, he will establish an Infrastructure Debt Fund (IDF) to mobilise financing for large infrastructure projects. The former Vice President bemoaning the grid collapse, which occurred at 11:27 am yesterday, noted that the grid suffered from its 6th collapse this year.
I am reliably informed that there was a total National Grid Collapse at precisely 12:23pm today. This is one collapse too many. It is the 6th time this is happening this year alone.
— Atiku Abubakar (@atiku) July 20, 2022
Atiku noted that the power sector is critical to the success of other sectors in the country’s economy. As such, he proposes “innovative financing of infrastructure that will involve the facilitation of a review of the financial, legal, and regulatory environment.”
Due to the priority that I place on the power sector upon which the successes of other sectors are hinged, I am proposing innovative financing of infrastructure that will involve the facilitation of a review of the financial, legal, and regulatory environment
— Atiku Abubakar (@atiku) July 20, 2022
Atiku added that he would seek to establish a Credit Guarantee Agency to complement the IDF’s operation and de-risk investments. This, he claims, will spur investor confidence and improve investments in the power sector.