Business
Nigerian govt offers N200bn to power sector to boost supply
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, Wednesday disclosed that the Federal Government had paid more than N200 billion to the power sector in a bid to improve electricity supply in the country.
Mr Kyari made the declaration in Abuja while speaking with newsmen following a closed door meeting with the NNPC team; Usman Mohammed, Managing Director of the Transmission Company of Nigeria, and Sale Mamman, Minister of Power.
He noted that the fund would aid power generating firms in clearing their indebtedness to gas companies.
“Actually the Federal Government has made payments of over N200bn for power in the last two to three days.
“This will go a long way in making sure that those payment issues are resolved. And we are engaging as a government and as a team to make sure that those payment issues are fully settled,” the NNPC chief said.
Read also: Power sector incurred N65.6bn loss in March —Report
According to him, the corporation had ramped up gas supply for power generation and challenges around power supply were currently being dealt with.
“This also means that Nigerians will get better access to power during this lockdown period and going forward.
“There are issues around power supply process and we have discussed most of them and we are moving as a team to make sure that we resolve issues around payment and evacuation.
“We are very confident that this will get the desired result. We will visit some power plants tomorrow to make sure that we sort out any issue to ensure that Nigerians have access to better power.”
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