“We’ve Invested N900bn On Power So Far, We’re About To Invest Another N600bn” – VP Osinbajo

Vice President Yemi Osinbajo said the present administration has invested N900 billion in the power sector since its assumption of office in 2015.

Osinbajo stated this when he paid a courtesy visit on the Asagba of Asaba, Prof. Chike Edozien on Friday in Asaba. He said:

”Since assumption of office, we have invested so far in terms of support N700 billion in the power sector. Earlier, we invested N200 billion.”

The vice president said further that the Federal Government was in the process of investing another N600 billion in the sector.

On futher steps to improve power supply in the country, the vice president said that the federal government had decided to take a second look at the power sector.

According to him, one of the reasons why there are challenges in the power sector is that each of the Distribution Companies (Discos) controls a particular territory.

”And now we are saying that any company that wants to provide power to any territory, should be able to provide power for the territory and the people.

‘We have been able to break the existing monopoly in the power sector. Whether upgrade or not, the discos should be able to serve the people.

”Another strategy we are trying to introduce is to open up the power sector by restructuring,” he said.