Minister of Power, Chinedu Nebo Monday said the investments recorded in the telecommunication sector since the introduction of the Mobile Telephone services in the country would be dwarfed by investment in Power sector once the on-going reforms in the sector takes firm footing.

Addressing state House correspondents after a meeting of the Presidential Action Committee on Power, Professor Nebo said so far government has accessed loans from various international lending agencies to fund the expansion of transmission infrastructure to the tune of $1.6Billion.

According to the minister, “We have substantial amount of funding coming in form of loans from the World Bank, African Development Bank, Euro Bond Issue and Chinese Exim Bank and NDPHC had already designated $1.6 billion for the expansion of Transmission facilities in the country.

More details soon

Source - www.vanguardngr.com/2013/08/fg-borrows-1-6b-to-expand-power-transmission-facilities-nebo/

Thunder fire the ministers of power and education

The country's problem is not borrowing money but to put it into effective use ...

The Minister should learn to talk less, and more of actions.

Meanwhile we lost about twice this amount to oil theft LAST MONTH ALONE.

What a country.

Borrow money to fund government


Borrow money to repaint airports


Borrow money to buy old and obsolete locomotive trains


Borrow money to build power stations


Borrow money expand power transmission lines

Oil theft is costing Nigeria billions/day

...meanwhile, Tompolo the protector of Nigeria's maritime waters and oil infrastructures just acquire 13 seater private jet..


Fresh air...oh I mean odious air all over the place...

The issue isnt just borrowing but will the politicians and their cronnies allow Prof Nebo to make use of the money?

The appropriate title should be FG BORROWS 1.6B FOR 2015 ELECTIONEERING CAMPAINS.

Borrow as much as you want..Nigerians just want 24hrs uninterrupted power supply...If GEJ can fix our power problem totally and permanently, I will not only vote for him with all my fingers but my toes too. Who no dey borrow?

more borrowed funds, yet nothing is changing.

Awon Oniranu...

No good thing can come out from this so call FG

OK,we are waiting to see the usefulness of the borrowing

but is it a generational curse that we cant have steady power supply in all parts of the country?! what is all these nonsense sef? ah ah! them swear for us!

Don't understand thIs power thing. Today they are selling off plants, tomorrow they r promising more mega watts, today even with the same mega watts people say light is improving, yesterday they pay former phcn workers, today they are borrowing loan.

When and how will power be stable?

Borrow dis.... Borrow dat... On top no result... God is watching....

Borrowing Borrowing always borrowing..
Where is our freaking oyel money?

Let we youth raise and fight for our right,if not so this government people will used we citizen to borrow money one day!

I fink only s fraction of this money is meant for power. perhaps, the remaining for preparation of election.why can't we survive without borrowing?

yahrant140: Let we youth raise and fight for our right,if not so this government people will used we citizen to borrow money one day!

Lol... You mean we'll be used as collateral?

Na today? All na scam abeg!

plaindealer: Borrow money to fund government


Borrow money to repaint airports


Borrow money to buy old and obsolete locomotive trains


Borrow money to build power stations


Borrow money expand power transmission lines

Oil theft is costing Nigeria billions/day

...meanwhile, Tompolo the protector of Nigeria's maritime waters and oil infrastructures just acquire 13 seater private jet..


Fresh air...oh I mean odious air all over the place...

People can not see that is just the problem. Goodluck is a disaster

In order words we are the country's future is in-debted, courtesy of your insatiable lust for easy money.

Gej Should Borrow As Much As He Can Cos No One Knows Tomorrow... Who knows What Will Happen In 2015

plaindealer: Borrow money to fund government


Borrow money to repaint airports


Borrow money to buy old and obsolete locomotive trains


Borrow money to build power stations


Borrow money expand power transmission lines

Oil theft is costing Nigeria billions/day

...meanwhile, Tompolo the protector of Nigeria's maritime waters and oil infrastructures just acquire 13 seater private jet..


Fresh air...oh I mean odious air all over the place...

lagos state debt is put at 1.2 trillion. So shut da fck up

Thieving bast@rds, we can't see what has come out from the money they've been borrowing. The politicians should take a pay cut to fund the imaginary power project. Thunder fire all of them. Ole!

plaindealer: Borrow money to fund government


Borrow money to repaint airports


Borrow money to buy old and obsolete locomotive trains


Borrow money to build power stations


Borrow money expand power transmission lines

Oil theft is costing Nigeria billions/day

...meanwhile, Tompolo the protector of Nigeria's maritime waters and oil infrastructures just acquire 13 seater private jet..


Fresh air...oh I mean odious air all over the place...

even borrow money to maintain oil theft…..

May God punish any country that borrows Nigeria money. Later they would rank Nigeria as the most corrupt country in the world while they cntinue their collabo with those demons we call leaders.

Abeg Nebo,leave story jor

This is crazy the world should stop giving Nigeria government money money is not the problem corruption is and the funny thing is that some of this loans are to be payed in 50years time when the actual person who borrowed and spend the money is dead and burning in hell.

oxford:
lagos state debt is put at 1.2 trillion. So shut da fck up

we could see the impact

This is the fresh air from GEJ right!...if they meant well, they would have made some sacrifice, through top govt salary reduction, complete stop to foreign travel, close govt agencies that are not useful, close oil smuggling lope holes, retrieve the monies stolen by oil cabals, fight corruption so that stolen wealth can be reinvested in power. This is why I'm mad at GEJ. OBJ also invested a lot in power why didn't GEJ look to see where the money went, retrieve the money and reinvest it! instead of dipping us back in debt? I cant wait to see what will be his campaign for reelection 2015. The minister is only doing what his oga-at-the-top asked him to do.