The Minister of Budget and National Planning, Udoma Udoma, while addressing The Situation Room, a group of civil society organisations, has said that the Federal Government has provided N40 billion to settle reconciled outstanding electricity bills of its ministries and agencies, Premium Times reports.
Udoma said the gesture was part of a strategy to revamp the power sector. He said the step was imperative because the Economic Recovery and Growth Plan, which was predicated on the 2017 budget, would not be effective without a bolstered power sector.
He said; “In order to do that, it is important that every segment of the power sector is commercialised so that the government itself is making sure to settle its bills to the Discos to make sure that power is effective. So, we are looking at N40 billion to settle some of the bills MDAs have in the power sector.’’
Mr. Udoma said that the government would also invest N9.5 billion on rural electrification projects in federal universities in its quest for sustainable power. He said that N10 billion had also been earmarked for the construction of the 3,050-megawatt Mambilla hydropower project. He added that N10.02 billion had been put aside for the completion of the power evacuation facility for the 400-megawatt Kashimbila hydropower plant.