DAILY POST
The Nigerian government said the country needs $10 billion in investment in the power within five to ten years to achieve a 24-hour electricity supply.
The Minister of Power, Adebayo Adelabu, disclosed this when the Director General of the Infrastructure Concession Regulatory Commission (ICRC), 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.
“Government cannot do it alone; this is why we have to look for organised private sector funding while still retaining government interest and ownership.
On his part, Ewalefoh stressed that revamping the country requires planning, collaboration and private-sector investments.
“Revamping the power sector requires planning; it involves investments, and it takes time. So, we need to collaborate to solve the issues in this sector.
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