The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has restated the federal Government’s determination to develop stable power supply, good road network and affordable housing for Nigerians.
This is contained in a statement from the Minister’s Special Adviser (Communications), Mr Hakeem Bello yesterday in Abuja.
It said Fashola gave the assurance when he spoke at the African Alliance 2016 Investors Day in Lagos.
He said the ministry was determined to achieve results by doing things differently to develop sustainable infrastructure to convert current challenges to opportunities for economic growth.
He was quoted to have decried the problems inherent in the entire power chain, “from distribution to transmission, generation and gas supply, including a cross-cutting liquidity problem”.
The statement said the existing gap of meter supply in the distribution segment of the power chain had created enormous opportunities for local production for estimated three million consumers.
“Local producers or investors are expected to meet a significant local content participation that would help Small and Medium Enterprises supply an estimated three million consumers who needed to be metered.
“Apart from metering, the distribution companies have aging assets: Transformers, ring main units, poles, cables, breakers and so on, some of which are 20 to 30 years old.
“It is a problem on one hand and enormous opportunity on the other hand,” it said.
The statement stated that the ministry planned to complete about 47 transmission projects to deliver 1,000 MW more carrying capacity this year to expand national growth plan.
It added that the government, in spite of low oil revenue, had upgraded budgetary allocation to ensure completion of existing roads across the six geo-political zones. (NAN)
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