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FG targets $10bn power investment with private sector collaboration

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FG targets $10bn power – This initiative is seen…
This initiative is seen as a critical step toward revitalising Nigeria’s power sector and improving the nation’s electricity supply.
The Nigerian government is set to partner with the private sector to bridge the $10 billion funding gap needed to overhaul the country’s power sector over the next five to ten years.
The announcement was made following a meeting between the Director General of the Infrastructure Concession Regulatory Commission (ICRC), Dr. Jobson Oseodion Ewalefoh, and the Minister of Power, Chief Adebayo A. Adelabu, in Abuja on Tuesday, November 12.
Dr. Ewalefoh emphasised the crucial role of private sector involvement in the revitalisation of the power sector.
“The investment required in power is very huge and government cannot fund it alone, so we have to leverage on the financing capacity of the private sector. That is why the ICRC was set up to regulate this leverage,” he said.
READ ALSO: FCT Consumers protest prepaid meter price hike amid economic hardship
With Nigeria’s electricity infrastructure in dire need of upgrades, the government has identified Public-Private Partnerships (PPP) as a key mechanism to secure the necessary investments and expertise.
The Minister of Power echoed this sentiment, explaining that achieving 24-hour power supply in the country requires substantial investment, which government alone cannot provide.
“For us to achieve 24 hours power supply across Nigeria in the next 5 to 10 years, there is a minimum funding requirement of about $10 billion. The government cannot afford that, when there are other critical sectors in need of funding. We need to do this in collaboration with the private sector and the best way is through concession,” Adelabu noted.
Both officials agreed that optimising the performance of existing infrastructure and financing new projects will require close collaboration between public and private entities.
The ICRC, which regulates PPP initiatives, is committed to ensuring that the processes for attracting private sector investment are streamlined and effective.
READ ALSO: FG begins audit of PPP projects nationwide
As Dr. Ewalefoh outlined, the commission’s six-point policy direction aims to accelerate project delivery and safeguard against delays caused by ill-prepared companies.
In response to concerns about the integrity of the process, Dr. Ewalefoh reassured that the ICRC would maintain stringent regulatory measures to prevent defaulting bidders.
“We are insisting on inserting conditions precedent to all PPP agreements so that any preferred bidder that defaults will have their agreement automatically nullified,” he stated.
This initiative is seen as a critical step toward revitalising Nigeria’s power sector and improving the nation’s electricity supply.
With the backing of the private sector, the government hopes to attract foreign direct investment, boost economic growth, and ultimately provide Nigerians with regular, reliable power.
#targets #10bn #power #investment #private #sector #collaboration
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"This is for my brothers that said no one will marry me" Bride-to-be says as she shows off engagement ring to her brothers

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5 hours agoon
March 25, 2025By
JohnA bride-to-be has gone viral for a video she did with her brothers. In the video, the lady is seen showing off her engagement ring to her brothers while they look on. “This is for my brothers that said no one will marry me bc of my dirty room,” she wrote alongside the video. Watch video below. View this post on Instagram A post shared by Lindaikejiblog (@lindaikejiblogofficial) The post “This is for my brothers that said no one will marry me” Bride-to-be says as she shows off engagement ring to her brothers appeared first on Linda Ikeji Blog.
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[VIDEO]: Akpabio's ally calls Ezekwesili an ‘insult to womanhood’ in heated exchange over Natasha's case

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8 hours agoon
March 25, 2025By
John![[VIDEO]: Akpabio's ally calls Ezekwesili an ‘insult to womanhood’ in heated exchange over Natasha's case 11 a8285da9 aa23 41a4 8dae 069f7b1685a1](https://turo247newz.com/wp-content/uploads/2025/03/a8285da9-aa23-41a4-8dae-069f7b1685a1.jpeg)
A heated altercation broke out on Tuesday, March 25, between Senator Onyekachi Nwaebonyi of Ebonyi North and former Minister of Education Oby Ezekwesili during a Senate committee hearing.
The confrontation occurred at the Senate Committee on Ethics, Privileges, and Public Petitions session, which was reviewing a fresh petition submitted by Senator Natasha Akpoti-Uduaghan.
Ezekwesili was present alongside Abiola Akiode, Akpoti-Uduaghan’s counsel, and petitioner Zubairu Yakubu.
Tensions escalated when Yakubu attempted to speak while committee chairman Neda Imaseun was addressing the session.
He was asked to mute his microphone, prompting Ezekwesili to intervene.
Nwaebonyi, appearing as a witness for Senate President Godswill Akpabio, interrupted her, leading to an immediate clash.
“Compose yourself and stop making noise,” Ezekwesili told the senator.
The remark triggered an explosive response from Nwaebonyi, who shot back angrily.
“You’re a fool. What do you mean? Why are you talking to me like that? I will not take it. You’re an insult to womanhood. People like you cannot be here,” he retorted.
VIDEO: 'You're an insult to womanhood' | 'Keep your mouth shut' — Nwaebonyi, Ezekwesili trade words at senate hearing on Natasha Akpoti's petition pic.twitter.com/VDWgzUe4CH
— TheCable (@thecableng) March 25, 2025
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Ezekwesili did not hold back, calling Nwaebonyi a “hooligan,” further aggravating the situation.
The fiery exchange briefly disrupted the proceedings before order was restored.
In the aftermath, committee chairman Imaseun announced that the matter had been taken to court, abruptly ending the hearing.
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Reps initiate process to make appeal court final arbiter for governorship election petitions

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11 hours agoon
March 25, 2025By
John
A bill seeking to designate the Court of Appeal as the final authority for determining governorship election petitions has successfully passed its second reading in the House of Representatives. The bill, sponsored by Nnamdi Ezechi, the lawmaker representing Ndokwa East/Ndokwa West/Ukwuani federal constituency in Delta State, aims to amend Section 246 of the 1999 Constitution. Under the current provision, Section 246 stipulates that decisions by the Court of Appeal regarding election petitions related to national and state houses of assembly elections are final. Ezechis proposed amendment seeks to extend this finality to governorship elections as well. If passed, the law would prevent gubernatorial election disputes from reaching the Supreme Court. Ezechi, who introduced the bill in 2024, stated that the intention behind the legislation is to reduce the delays and costs associated with post-election litigation. The new law would eliminate the need for appeals to the Supreme Court, which has sometimes reversed decisions made by the Court of Appeal in gubernatorial cases. Recent cases highlight the issues with the current system. In 2023, the tribunal and Court of Appeal annulled the election of Caleb Mutfwang of the Peoples Democratic Party (PDP) as governor of Plateau State, but the Supreme Court later overturned this ruling in January 2024, reaffirming Mutfwangs victory. Similarly, the Court of Appeal voided Abba Yusufs election as governor of Kano State, but the Supreme Court nullified this decision as well. If the bill is passed, it could significantly streamline the process and prevent further appeals, providing more stability to the countrys electoral system. The bill is now moving forward for further deliberation in the House of Representatives.The post Reps initiate process to make appeal court final arbiter for governorship election petitions appeared first on Linda Ikeji Blog.
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