Senate President Ahmad Lawan on Monday lamented that Nigeria loses about $29 billion yearly to irregular and poor power supply. NGRSenate DrAhmadLawan
Senate President Ahmad Lawan on Monday lamented that Nigeria loses about $29 billion yearly to irregular and poor power supply.
Lawan noted that Nigeria has spent N1.8 trillion on power since 2015 without anything concrete to show for it He said that instead of the power situation in the country to improve after privatisation as expected, the prospects of the sector have continued to dim with attendant loses.According to him, the Share Purchase Agreement between the Federal Government, Distribution Companies , Generating Companies , during the exercise is today responsible for Nigeria losing between N12billion and N15 monthly.
The Minister of Finance, Budget and National Planning, Zainab Ahmed, in her presentation agreed with Lawan that the power sector has failed to perform as envisaged from the privatisation exercise.
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