Vice President, Prof. Yemi Osinbajo, today 19 June 2019 while speaking during a breakfast meeting of the Lagos Business School in Abuja says the Federal Government is discussing with stakeholders on ways to restructure Nigeria’s power sector. He revealed that the move became necessary following the need to improve supply and attract more investment to the country.
Osinbajo expressed the government’s readiness to creating “a willing buyer, willing seller” situation in the power sector market.
He bemoaned the same old ways where Electricity Distribution Companies (DisCos) controlled territory they could not service.
The Vice President noted that private power projects had been executed at the Sabon Gari Market in Kano; the Ariaria Market in Aba; the Sura Market in Lagos; and in Ondo respectively. He said that the arrangements enabled the private power supplier to provide power to shop owners and businesses at an agreed cost-effective tariff.
Prof Osinbajo stressed that the current regulatory framework of the power sector in the country had to take into consideration the effective model of power supply.
