Business
We’ll achieve 7,000MW of power generation by 2017, Osinbajo vows
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.
Read also: Zenith Bank posts N121bn profit in 9 months
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….
RipplesNigeria …without borders, without fears
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
victoria wilson
October 25, 2016 at 10:26 am
why do i find it hard believing what V.P Osinbanjo has to say, because they probably told him to say all this. 2019 come fast, soo we can be done with buhari/osinbanjo
Nonso Ezeugo
October 25, 2016 at 11:32 am
Dear thats very bodies prayer, i wish i can command the year’s to run faster for all this nonsense to stop.
Roland Uchendu Pele
October 25, 2016 at 10:31 am
Here is the Vice-President I once respected. He has joined the bad wagon. He now makes vain promises, to hype the current government. Pastor Osinbajo, do not drag your reputation to the mud, I beg you sir.
Amarachi Okoye
October 25, 2016 at 10:35 am
Well hoping and believing is all we can do, then waiting for the day our hope will come through.
Tope Solomon
October 25, 2016 at 10:56 am
And he makes it sound like 7,000MW is what powers heaven! orishishi..
Amaka Okoro
October 25, 2016 at 11:02 am
Vp and his Excellency buhari are birds of the same feathers people that don’t know it means to fulfill their promise , vp talk less act more.
Joy Madu
October 25, 2016 at 11:22 am
The bible says if you know that you can not fulfill your vow , it is better you never vowed, so mr vice president that you vowed is never a prove that you will fulfill it because you people dont regard the word of God.
JOHNSON PETER
October 25, 2016 at 11:58 am
Well , so far it’s coming out from Pastor professor Osinbajo , I believe the 7,000 mega watts will be visible.
yanju omotodun
October 25, 2016 at 12:03 pm
Are you a redeem member?
So if it was to be buhari or fasola who said it, you won’t believe?
Deceive yourself, Osinbajo is chilling enjoying cool cash as a political pastor. Promises are meant to be broken.