Osinbajo Reveals How Much Buhari Has Spent On Power So Far

Osinbajo Scores FG High On Power

Vice-President Yemi Osinbajo has stated that the President Muhammadu Buhari led administration is committed to providing stable power supply for Nigerians.

He added that the plan is not only to provide stable power but affordable power to the citizens of the country.

The Vice President said this on Tuesday at the Kainji hydropower plant in Niger State where he was represented by the Minister of Power, Saleh Mamman.

He disclosed that in the past two years, the federal government has spent N1.5 trillion on the power sector.

Recall in July, the Vice-President said the government has invested N900 billion in the sector since it assumed office in 2015, and in August, another N600 billion intervention fund was approved for the sector.

“The federal executive council recently approved the third round of intervention funding for the (power) sector, with a total of about N1.5tn in the last two years,” Mamman said.

“However, if the country is to achieve its aim of channelling funding to other critical sectors of the economy, it is pertinent that structural reforms be put in place to enable the power sector to fund itself sustainably.

“These policy reforms must, however, take into consideration the need for underprivileged Nigerians to gain access to affordable electricity to power their homes and small businesses, as the government seeks to move Nigeria further up the World Bank’s doing business rankings.”