Weak transmission grid hampering power sector – Osinbajo

The Federal Government has identified weak transmission grid preventing wheeling of more than 5,000 megawatts of electricity for the nation’s use.

Vice President, Yemi Osinbajo, disclosed this while speaking on – “The Nigerian Economy and the Future,” at the 10th Year Anniversary Lecture of Crescent University, Abeokuta, Ogun State, on Saturday.

A statement issued on Monday by Mfon Udott of the Vice President Media Office, said Osinbajo promised that the gridlock will be removed.

The government, according to him, will work with the distribution companies to ensure the necessary investment to get electricity to the targeted customers.

He said: “The APC manifesto is to deliver a minimum of 10 per cent of GDP growth annually, while ensuring an inclusive economy that improves the lives of all Nigerians. This cannot happen unless we achieve a significant improvement in the power sector.”

He assured that the administration will focus on improving the supply of gas to power plants to help maximize the 13,000MW generating capacity.

He said: “The plans for the power sector will be supported with a National Infrastructural Master Plan that requires an investment of $3 trillion over a 30-year period. This is the minimal requirement to improve our infrastructure stock from 35 per cent of GDP to the benchmark for our peers, which is estimated at 70 per cent of GDP.

“Apart from enabling manufacturing and other sectors, we expect that the investment in infrastructure will also directly create thousands of jobs in construction and maintenance activities.”

 

The post Weak transmission grid hampering power sector – Osinbajo appeared first on The Nation.

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