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Vice President Yemi Osinbajo has said that despite the current drop in electricity generation capacity of the country, the targeted 7,000MW will be achieved by 2017.
Osinbajo stated this in Abeokuta on Monday at the opening of the 8th National Council on Industry, Trade and Investment meeting.
The VP, in his address at the meeting also said the current recession being experienced in the country would be short-lived, adding that once the issue of pipeline vandalism is taken care of and the sustainable diversification policy of government is achieved, the economy will turn around.
According to him, the loss of about 60 per cent of the gas for power generation and 60 per cent of revenue were responsible for the economic challenges currently facing the country.
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He however said that contrary to predictions that the current recession in the country would last till 2020, government would not rest until it is finally resolved.
On power generation, the Vice President said the Federal Government was currently working on eight to nine transmission stations across the country to achieve the 7,000MW generation capacity.
“The President Muhammadu Buhari-led Federal Government is equally working on increasing gas supplies to enable the Federal Government increase power supply throughout the country towards improving the energy needs of the country.”
By Timothy Enietan-Matthews….
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