Vice President, Federal Republic of Nigeria, Prof. Yemi Osibanjo, SAN
Vice-President Yemi Osinbajo has promised that the Federal Government would continue to expand opportunities for investments in renewable energy, technology and other sectors of the Nigerian economy.
The Vice President stated this Wednesday, while responding to questions from a cross section of Norwegian investors at a round-table event at the Nordic-African Business Summit holding in Oslo, Norway.
Senior Special Assistant on Media and Publicity to the Vice President, Laolu Akande, in a statement, said that the country has made tremendous gains in reforming the energy sector.
He said: “Some of the issues around the power sector have been around the whole question of trying to open up for more willing buyer, willing seller arrangement as opposed to selling to the grid.
While citing the progress made with the Energizing Economic programme in Sabon Gari, Ariaria and other markets across the country, Osinbajo said: “What is sustainable, long-term, is actually the situation where a private power company can supply whole areas, going through the whole metering process”.
Continuing, the Vice President said: “We have found that it has been successful. It worked in Lagos and other places. Azura Power is supplying power in Wuna, a place just outside Abuja; they are in Lagos and other places. Everybody would rather have a guarantee for payment linked with government, but that isn’t sustainable.
“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 realize profits from their supplies is really what government would rather do.”
