Victoria Mgbanwa
The Special adviser to President Bola Tinubu on energy, Olu Verheijen, said the Federal Government will set policies that will facilitate reorganization and recapitalization of energy sector.
He said the government will bring in new partners with new capital.
“We need new investors to revive the industry that can barely supply power to nearly 200 million people.
The electricity distribution companies in Nigeria will need an estimated N2 trillion or about $2.5 billion in capital to improve power supply to Nigerians.
He said, “The companies are over-leveraged and under-capitalized, which has limited their capacity to invest in distributing electricity to households.
President Bola Tinubu, had pledged in his New Year broadcast, to improve electricity supply in Nigeria.
