Development partners pledge $2b for electricity sector
Nigeria's development partners will be contributing a total of $2 billion for the development of Nigeria's power sector between now and 2018, the Country Representative of the United Nations Industrial Development Organisation (UNIDO), Dr. Patrick Kormawa, said.
Announcing the pledge in Abuja, Kormawa said that the gesture was aimed at improving generation, distribution and transmission of electricity.
The UNIDO Country Representative said that the $2 billion would be given as grant to ensure efficient power supply in the country, as increased financial support for the sector was necessary.
Dr Kormawa also pledged continuous support for other sectors of the economy begging for urgent attention.
Major players in the power sector and members of civil society organisations converged on Abuja to brainstorm on how to maintain sustainable service delivery in the post privatisation era.
The Minister of Power, Professor Chinedu Nebo, explained that shortage of gas supply, vandalism and fragile transmission grids are some of the hiccups the Federal Government has to contend with, in spite of the financial commitment by development partners.
However, the Chairman, House of Representatives Committee on Power, Patrick Ikhariale, warned against fraudulent practices by the investors to ensure that Nigerians enjoy services provided by the succeeding generation and distribution companies.