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We’ve invested N900 billion on power since 2015 – Osinbajo

Vice-President Yemi Osinbajo says the current administration has invested N900 billion in the power sector since it assumed office in 2015.

Osinbajo spoke when he paid a courtesy visit on Chike Edozien, the asagba of Asaba, on Friday.

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

The vice president said the federal government was in the process of investing another N600 billion in the sector.

On further steps to improve power supply in the country, the vice president said 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,” he said.

‘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.”

 

 

– The Cable

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About Delia Innoma

Delia Innoma is a prolific writer, promoter, artist manager with full professional proficiency in English, German and Igbo languages. She studied accounting and computer programming at the Institute of Management and Technology Enugu and Germany respectively. Delia is also a devoted mother of two and she founded the Diamond Celebrities Magazine. Her sense of responsibility and commitment to the Christian faith are essential forces driving her daily activities.

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