Osinbajo reveals Buhari govt plans
d to expanding opportunities for investments in renewable energy, technology and other sectors of the Nigerian economy.
“I think what has happened is that some of the contractors would prefer to sell wholesale power to the national grid; of course, that gives more certainty with regards to their revenues. But what we have tried to encourage now is more of the willing buyer, willing seller arrangement.” “There are millions of households waiting to be served with power; we think that simply opening the market and ensuring that people are able to build their contacts and realise profits from their supplies is really what government would rather do.”
According to him, “the first thing is to democratize that space, which is what we are doing so that there is adequate competition. There are progressive stuff going on even without any of the reforms, but the reforms are major. Digitizing Nigeria Drive, that is really what this is all about. The whole idea is to open the space up for competition.
Speaking further on how some of the programmes have impacted young Nigerian entrepreneurs, the Vice President said most of the services required for the implementation of components of the Social Investment Programmes were provided by Nigerian technology companies. “So, I think the space is opening up, I think that there are more opportunities. There is an intentional approach in ensuring that young people have more access to credit and an environment where they can function.”
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