Posted by: Augustine Ehikioya
• ‘Nigerians to feel impact of power sector privatisation soon’
About $1.6 billion has been designated for the expansion of power transmission facilities in the country, the Minister of Power, Prof. Chinedu Nebo, has said.
Nebo disclosed that the fund is made up of loans expected from the World Bank, African Development Bank, Euro Bond Issue and the Chinese Exim Bank.
The Minister, who spoke at the State House yesterday after the meeting of the Presidential Action Committee on Power (PACP), chaired by President Goodluck Jonathan, said the forum addressed issues bordering on expanding the transmission network, so as to ensure that there is adequate willing capacity to all the power generating plants for the benefit of Nigerians.
He said: “The Government is adequately prepared, everybody is excited at what has just happened, that we had such a significant compliance of all the proffered bidders who bought the GENCOS and the DISCOS as you can very well tell, most of them have paid up and most people thought it was never going to happen,” adding that what was considered impossible has become a reality and that Nigeria is gong from a public sector dominated power sector to a private sector driven power sector.
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