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Government needs $900bn to improve power

04 July 2014, 12:00

Lagos - An estimated $900 billion (N146 565 trillion) would be needed by the federal government in the next 30 years to grow its infrastructures in power, oil and gas sectors, reports Daily Trust.

A breakdown of how the money would be used shows that $550billion (about N89 611trillion) would be needed for power and $350billion (about N56 997trillion) for oil and gas, including maintenance cost.

Erepamo Osaisai, Chairman/CEO of the Nigeria Atomic Energy Commission (NAEC) noted these investments are needed if the country must meet its energy needs and generate export revenue.

He noted that Nigeria has one of the lowest per capita electricity generation in the world.

Read more at Daily Trust.

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