\n
The Federal Government says electricity distribution companies in Nigeria will need an estimated N2 trillion or about $2.5 billion in capital to improve power supply to Nigerians.<\/p>\n
Olu Verheijen, an adviser to President Bola Tinubu on energy, disclosed this during a recent interview.<\/p>\n
The government also stated that new investors need to revive the industry that can barely supply power to nearly 200 million people.<\/p>\n
The companies are over-leveraged and under-capitalized, which has limited their capacity to invest in distributing electricity to households.<\/p>\n
\u201cWe need to set policies that facilitate reorganization and recapitalization and bring in new partners with new capital,\u201d he said.<\/p>\n
President Bola Tinubu, in his New Year broadcast, had pledged to improve the electricity supply in Nigeria.<\/p>\n
Minister of Power, Adebayo Adelabu has expressed readiness to support President Bola Ahmed Tinubu\u2019s electricity turnaround agenda for Nigeria this New Year and beyond.<\/p>\n
DisCos need N2trn capital investment to improve power supply in Nigeria \u2013 FG<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
The Federal Government says electricity distribution companies in Nigeria will need an estimated N2 trillion or about $2.5 billion in…<\/p>\n","protected":false},"author":1,"featured_media":10418,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4161,2393,15,466],"tags":[519,2394,180,26],"class_list":["post-10417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-discos","category-news","category-tinubu","tag-business","tag-discos","tag-news","tag-tinubu"],"yoast_head":"\n
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