The Federal Government has declared that to deepen the development of the power sector, there is still need for a lot of investment.
The Permanent Secretary, Ministry of Power, Mr. Louis Edozien, said this at the 5th Nigeria International Power Expo and Conference, which held weekend in Abuja, with the theme: “Private Sector Partnership in Achieving Sustainability of Power Supply in Nigeria.”
According to him, the President Muhammadu Buhari-led administration has shown singular leadership and initiatives in ensuring that Nigeria leap-frogs in its quest to achieving its dream of becoming one of the best economies in the world by the year 2020.
Edozien, who was represented by Mr. Abayomi Adebisi, listed the achievements recorded and the defining future trend within the context of the new private-led power sector, which includes the establishment and implementation of a Renewable Energy and Energy Conservation Policy, embedded with coal to power.
According to him, the ongoing reform of the Power Ministry is to equip it with the right competitiveness and capacity to handle policy issues as well as ensuring conducive and enabling environment for investment in power.
The Permanent Secretary also said that Government will assist the Transmission Company of Nigerian, TCN, in accessing long term expansion funds, including the proposed Transmission Development Fund, and other international development funds from banks and multilateral agencies.