Electricity: Governors ask Nigeria govt to refund $10bn equity investment in power plants
Bid governors rep known as for the refund of squawk governments’ beefy equity investments within the estimated sum of $10 billion in Nationwide Integrated Power Initiatives that are beneath the administration of the Niger Delta Power Keeping Firm.
The 36 squawk governors beneath the Nigeria Governors’ Dialogue board acknowledged the Federal Authorities can rep to quiet refund an equitable rate of return on their investments within the vitality vegetation.
They made the demands in a most as much as the moment doc submitted to the Ministry of Power, titled, ‘Pattern of the Nationwide Integrated Electrical energy Protection and Strategic Implementation Knowing Protection Recommendations by Bid Governments’.
The Federal Ministry of Power confirmed the doc nevertheless remained mum on the governor’s seek records from.
“The refund of states’ investments within the NIPPs is without prejudice to the ability of the Federal Authorities to privatize or sell the NIPPs,” the governors talked about.
The strategy comes with most as much as the moment efforts to put into effect the 2023 Electrical energy Act, which empowered the squawk executive to set up its electrical energy industry.
Lately, the Nigerian Electrical energy Regulatory Commission transferred the vitality of oversight to Enugu, Ondo and Ekiti states.
The implication is that the states will oversee the electrical energy present industry interior their jurisdiction.
