FG offers N200bn to power sector to boost supply

We are very confident that this will get the desired result
Muhammadu Buhari, President of Federal Republic of Nigeria

The Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mele Kyari, revealed Wednesday that the Federal Government has paid more than N200 billion to the power sector in a bid to boost the country's electricity supply.

Mr Kyari made the comment in Abuja after a closed-door meeting with the NNPC team; Usman Mohammed, Managing Director of the Nigerian Transmission Company; and Sale Mamman, Power Minister.

He noted that the fund would allow companies producing power to clear up their indebtedness to gas firms.

“Actually the Federal Government has made payments of over N200bn for power in the last two to three days.

“This will go a long way in making sure that those payment issues are resolved. And we are engaging as a government and as a team to make sure that those payment issues are fully settled,” the NNPC chief said.

The company had ramped up gas supply for power generation, he said, and issues around power supply were being tackled at present.

“This also means that Nigerians will get better access to power during this lockdown period and going forward.

“There are issues around power supply process and we have discussed most of them and we are moving as a team to make sure that we resolve issues around payment and evacuation.

“We are very confident that this will get the desired result. We will visit some power plants tomorrow to make sure that we sort out any issue to ensure that Nigerians have access to a better power.”