FG to inject additional N600bn in the power sector, open it up for restructuring – Osinbajo
Vice President Yemi Osinbajo says the present administration has invested N900 billion in the power sector since its assumption of office in 2015.
Osinbajo stated this when he paid a courtesy visit on the Asagba of Asaba, Prof. Chike Edozien on Friday in Asaba.
“Since assumption of office, we have invested so far in terms of support N700 billion in the power sector. Earlier, we invested N200 billion”.
The vice president said further that the Federal Government was in the process of investing another N600 billion in the sector.
On further steps to improve power supply in the country, the vice president said that the federal government had decided to take a second look at the power sector.
According to him, one of the reasons why there are challenges in the power sector is that each of the Distribution Companies (Discos) controls a particular territory.
“And now we are saying that any company that wants to provide power to any territory, should be able to provide power for the territory and the people. We have been able to break the existing monopoly in the power sector. Whether upgrade or not, the discos should be able to serve the people”.
“Another strategy we are trying to introduce is to open up the power sector by restructuring,” he said.
On the second Niger Bridge, Osinbajo said that the project was very important to the Federal Government.
According to him, President Muhammadu Buhari did not only negotiate for the equipment being used for the construction of the bridge, but is also paying special attention to the project.
“I was here six weeks ago to look at the progress of the work there and I must say that the project is going on well. I hope that very soon we should be completing not just the bridge, but also all surrounding infrastructure both here in Asaba and the other end of the bridge,” he added.
Earlier, in his address of welcome, the Asagba of Asaba noted that poor power supply had been a major challenge in the Delta capital and appealed to the federal government to intervene in the situation.
He also appealed to government to compensate the people of Asaba on the 1967 massacre which claimed many lives, by establishing a federal university in the town.
According to him, Asaba is the only state capital in Nigeria without a federal university. (NAN)