Adedapo Adesanya
**Says N1.5trn Spent on Power in Two Years
By Adedapo Adesanya
Nigeria has spent over N1.5 trillion in the last two years in its bid to revamp and strengthen the power sector in the country, Vice President, Mr Yemi Osinbajo, has disclosed.
Mr Osinbajo, who spoke through the Minister of State for Power, Mr Saleh Mamman, at the premises of Kainji Hydro power plant in Niger State, said the President Muhammadu Buhari-led administration was commitment to alleviating the electricity problems faced by Nigerians.
According to him, government is putting in place policy reforms that will guarantee access to affordable electricity for Nigerians.
It will be recalled that in July, the VP said that the current administration had invested N900 billion in the power sector since it assumed office in 2015 when he paid a courtesy visit to the Chike Edozien, the Asagba of Asaba in Delta State.
Also, last month, it was reported that President Buhari had signed another N600 billion intervention fund to improve the power sector.
“The federal executive council recently approved the third round of intervention funding for the (power) sector, with a total of about N1.5 trillion in the last two years,” Mr Osinbajo said in Niger State.
He also pushed for the autonomy of the power sector to fund itself, saying “If the country is to achieve its aim of channelling funding to other critical sectors of the economy, it is pertinent that structural reforms be put in place to enable the power sector to fund itself sustainably.”
“These policy reforms must however take into consideration the need for under-privileged Nigerians to gain access to affordable electricity to power their homes and small businesses, as the government seeks to move Nigeria further up the World Bank’s doing business rankings,” he said.
