The Nigerian government has announced its intention to attract $10 billion in private investment to the power sector over the next five to ten years. This investment is crucial to achieving the goal of 24-hour electricity supply across the country.
Minister of Power Adebayo Adelabu made this statement during a courtesy visit from the Director-General of the Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Ewalefoh.
In a statement released by the ICRC, Adelabu emphasised that the government cannot single-handedly fund the required investment, especially considering the needs of other critical sectors. He highlighted the importance of public-private partnerships in achieving this goal.
The Minister expressed confidence that the ICRC, with its expertise in infrastructure concessions, can facilitate the necessary partnerships to secure the required investment and drive the development of the power sector.
