ICYMI: Nigeria loses $29bn annually to power sector failure – Lawan
The President of the Senate, Ahmad Lawan, said on Monday that Nigeria was losing an average of $29bn to power sector failure.
He said, “Some authorities say we lose about $29bn every year because of lack of sufficient and stable power. That is equivalent of what our people are supposed to earn. “And it is also believed that investors who would come to invest in that sector would have the financial capacity and muscle.” The Senate President said, “When you have privatisation, you have Share Purchase Agreement. This investigation should look at what has happened.
“Government should not be giving free money. About N1.8tn has been given to Discos; maybe in their books. The same amount of money might have been given to the Gencos.
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