President Yar'Adua will formally declare a state of emergency in the Power Sector Next month. Under the Emergency programme, the Federal and State governments would set aside a total amount of $5billion (about N600b) for the rehabilitation and expansion of Nigeria's power generation, transmission and distribution infrastructure.

The emergency period will be in force for three years.

The amount will be taken from the Excess Crude Account.

Nigeria's generation and distribution infrastructure would be privatized while its transmission infrastructure will remain under the control of a state-owned company.

Nigeria would seek additional financing from International Finance Institutions.

Curled from The Guardian Newspaper for Saturday, 14th of June, 2008.

here we freakin go again! let the looting begin!

Now this is another rubbish statement from yara-ill.

It has no measureable goals.

N600bill to produce/generate how much electricity? we dont know.

what is end time by which the money would have been spent and electricity availble? we dont know.

Clearly, this is another corruption money for them to finance the 2011 election.

sad nation

this man UMYA doesn't know what direction he's going after 1 year