According to the federal government, a tailored power subsidy is being designed to safeguard homes that are at risk while maintaining the industry’s long-term economic viability. In order to increase liquidity and enhance service delivery, the government will also impose a minimum capital adequacy requirement for distribution companies (DisCos) during their license renewal process, according to Minister of Works Adebayo Adelabu, who made the announcement yesterday at the Nigeria Energy Forum in LagosUnder the Presidential Power Initiative (PPI), he clarified, a focused nationwide initiative is underway to expedite grid modernization and expansion. He stated that while Phase One of the PPI, which is anticipated to add 7,000MW, is already under progress with contracts signed with Siemens Energy, CMEC, Elswedy Electric, and Power China, Phase Zero has already provided more than 700MW of new transmission capacity.
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