The Federal Government of Nigeria has revealed plans to collaborate with the private sector to raise a portion of the $10bn required to ensure a consistent and reliable electricity supply across the country.
This initiative is part of the government’s broader strategy to address the nation’s chronic power supply challenges and is expected to take five to ten years.
This was the focus of discussions when the Director-General of the Infrastructure Concession Regulatory Commission, Dr. Jobson Oseodion Ewalefoh, paid a courtesy visit to the Minister of Power, Adebayo Adelabu, in Abuja.
A statement by the Acting Head of Media and Publicity, Ifeanyi Nwoko, on Wednesday, revealed that the two officials agreed that given the funding and technical requirements necessary to advance Nigeria’s power sector, it had become imperative to seek private sector involvement through Public-Private Partnerships for co-financing and expertise to ensure optimal performance of power infrastructure.
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