The Vice President of Nigeria, Yemi Osinbajo, says the Buhari-led administration has spent over N900 billion in tackling the problems of Electricity in the country.
The Vice President said this during a courtesy visit he paid to the Asagba of Asaba, Prof. Chike Edozien on Friday July 12th. According to Osinbajo,
”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 disclosed that the Buhari-led government will be investing another N600 billion in the power sector in this second term.
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. He however added that this administration has been able to break the monopoly in the power sector.
”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.