Chief Adebayo Adelabu, the Minister of Power, stated that approximately 10 billion dollars is required by the Federal Government to rescue the power sector.
During the weekend at the Nigerian Electricity Regulatory Commission (NERC) retreat in Ikot Ekpene, themed “Addressing Critical and Emerging Issues in the Nigerian Power Sector,” Adelabu stated that the FG owes more than N200 billion in electricity debt
Adelabu, noting that the 10 billion dollar figure represents a third of Nigeria’s national budget, questioned whether the country was prepared to allocate such a large amount to the power sector when other vital areas like defence, education, and health also required support. He clarified that for the anticipated transformation of the power sector to occur, both foreign and domestic investors, along with the Federal and State Governments, must be ready to invest in remedying the current situation.
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