Power Sector: Atiku Urges Federal and State Governments to Boost Private Investments

Former Vice President Atiku Abubakar has called on the federal and state governments to create a conducive business environment to attract private investments in the power sector.

This comes after the recent commissioning of the 188MW Geometric Power Plant in Aba, Abia State, which aims to provide electricity to a section of the city.

Atiku commended the efforts of Prof Barth Nnaji and his team for their persistence in delivering the project despite the challenges faced.

He emphasized that the federal and state governments must work together to improve the business environment for the private sector to thrive in the power sector.

The former Vice President highlighted the importance of the power plant for the people of Abia, stating that it will boost businesses and improve the overall quality of life.

He also stressed the need to improve access to electricity for more than 40% of Nigeria’s population who currently do not have access to it.

Atiku further emphasized that Nigeria must prioritize investments in infrastructure to bridge the gap between the demand and supply of key facilities in the country.

He proposed the establishment of an Infrastructure Debt Fund (IDF) and an Infrastructure Development Unit (IDU) to facilitate private sector-led infrastructure projects.

He also urged the government to strengthen the capacity of the ICRC (Infrastructure Concession Regulatory Commission) and InfraCredit to support Public-Private Partnerships in the construction and management of infrastructure across the country.

Atiku emphasized the importance of achieving universal access to electricity in line with the Sustainable Development Goal 7 (SDG 7) and urged the government to create an environment that enables distribution companies to recover full costs for power supplied to their consumers, with a firm commitment to a metering program for all customers.