.......Govt needs N15 trillion to generate 40,000mw

Guardian

18 March 2011

.......Govt needs N15 trillion to generate 40,000mw

.ACN opposes nuclear power plant project

PRESIDENT Goodluck Jonathan yesterday said the country would need to pump about $100 billion (about N15 trillion) into the power sector for it to achieve 40,000 megawatts (mw) in the year 2020.          

The government had initially projected that it would need about $3.5 billion over the next 10 years to meet the same power generation target by the year 2020.       

According to the President, government would need to invest $10 billion yearly to attain the power generation target, stressing that plans were in place to increase the capacity utilisation of the nation’s sub-stations by 50 per cent this year.           

President Jonathan spoke at the Lagos Chamber of Commerce and Industry (LCCI) Business Environment Roundtable in Lagos.   He was represented by the Special Adviser to the President on Power and Chairman, Presidential Taskforce on Power, Prof. Barth Nnaji.

Power generation in the country currently stands at a little below 4,000mw.