End of darkness is near in Nigeria - Maku

Minister of Information, Mr. Labaran Maku
The Federal Government will spend $2.86bn (N457.6bn) between now and 2017 in order to give the nation a power transmission infrastructure that can carry 16,000 megawatts of electricity.

The Minister of Information, Mr. Labaran Maku, said this in Abuja on Tuesday at a news conference on the performance of the economy, especially following the successful sale of the Power Holding Company of Nigeria’s successor companies.

Maku said a transmission expansion blue print prepared by the Presidential Action Committee on Power had committed the government to a transmission capacity of 16,000MW.

He said the government was committed to funding the programme, which will cost $2.86bn, listing the sources of funding as the African Development Bank, $150m; World Bank, $290m; and Eurobond of $150m.

Other funding sources are a $500m loan from the China Export Import Bank; proceeds from the sale of the National Integrated Power Plants, $1.6bn; and budgetary appropriation, $170m.

Announcing that the end of darkness was near in Nigeria, Maku said different steps taken by the government would soon begin to yield results, but pleaded with the citizens to exercise some patience as time was still needed to usher in a new era.

He said, “The distribution companies are going to ensure that there are meters and the meters will be prepaid so that nobody will come and charge you for darkness, which was the case in the past. You buy your credit and when it finishes, your light goes off. You don’t need anybody to come and disconnect you.

Source: Punch Newspaper

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