Nigeria requires $10 billion to achieve sustainable power generation and distribution in the next 10 years, the Commissioner, Government and Consumer Affairs of the National Electricity Regulatory Commission, NERC, Dr. Ibrahim Abba, has said.
Abba who represented the Chairman of the Commission, Dr. Sam Amadi at the event noted that the issue of power was capital intensive, adding that the money needed was much higher than what the federal and state governments were able to invest.
He said, "The Federal Government cannot do it alone if we want a balanced situation in power generation and distribution," adding however that there was "no reason whatsoever for Nigeria to find herself in the current situation of non-availability of power as she has enough resources which can be harnessed to generate electricity," noting that NERC would involve all state governments to support its initiatives towards investing in the power sector.
Lamenting the current 4,000 megawatts of electricity being generated in the country, Abba further observed the need to conserve energy for efficient and effective utilisation.
"It is mandatory on us to handle the demand and supply of electricity more efficiently as it is the trend worldwide even where capacity is not an issue, " he said, noting that NERC had concluded arrangements for 11 distribution centres for which "over 300 companies have expressed their interest in generation, distribution and transmission."
source: allafrica.com
