The Federal Government says it has invested more than N10tn in Nigeria’s electricity sector since its privatisation in 2013, but the intervention has yet to deliver the reliable power supply expected from the reform.
The Managing Director of FGN Power Company Limited, Kenny Anuwe, on Thursday said the huge government spending has kept the industry afloat but stressed that public funding alone could not address the country’s electricity challenges.
He called for increased private sector participation and alternative financing models to accelerate infrastructure development.
Anuwe disclosed this at the sixth annual conference of the Power Correspondents Association of Nigeria in Abuja, where stakeholders examined the country’s roadmap to reliable and affordable electricity under the Federal Government’s ambition to grow the economy to $1tn by 2030.
The conference themed, ‘$1trn Economy: Nigeria’s Roadmap to Reliable and Affordable Power Supply’, raises fresh questions about the outcome of the 2013 power sector privatisation,
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