MICHAEL EBOH
The Federal Government in a bid to curtail the epileptic power situation in the country has spent about N5 trillion ($31.45 billion) from 1999 till date. But it has only been able to increase the country’s electricity generating capacity by about 2,500 mega watts over the last 14 years.
This is a far cry compared to its peers — South Africa and Brazil. Brazil recorded an investment of $58 billion in its power sector between 1994 and 2008, while it currently produces about 100,000MW of electricity. South Africa on the other hand, currently produces about 40,000MW of electricity, with plans to invest additional $37 billion over the next couple of years to triple current capacity.
Investments in power since 1999
Between 1999 and 2013, Federal Government’s budgetary provisions for power stood at N2.8 trillion of which over N2.326 trillion went into the National Integrated Power Projects, NIPP and various power intervention projects.
Specifically, yearly allocations as contained in statistics from the Budget.
Between 1999 and 2013, Federal Government’s budgetary provisions for power stood at N2.8 trillion of which over N2.326 trillion went into the National Integrated Power Projects, NIPP and various power intervention projects.
Specifically, yearly allocations as contained in statistics from the Budget.
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