To further boost power generation across the country and address the epileptic power supply, President Umaru Yar’Adua has directed the Federal Ministry of Finance to release N59 billion to Power Holding Company of Nigeria (PHCN).

It was also revealed on Thursday that power generation in the country remained at 2,600 mega watts more than one year after President Yar’Adua came into power and promised to declare emergency on the power sector.

Appearing before the Senate Committee on Power and Steel, Permanent Secretary in the Ministry of Energy (Power), Dr. Abdullahi Aliyu, said the N59 billion to be released to the PHCN was the remaining of the N115 billion budgeted for improvement of power supply in the country in 2008 budget.

He stated that the ministry had received N56 billion, adding that the money had been earmarked for power projects across the country.



Fuente

Let Somebody shout Halleluyahhhhhhhhhhhhhhhhhhhhhhhhh!!!!

Sorry, i don't see any reason to celebrate. What is the money going to be used for and i hope it is in no way going to be used as a means of further strengthening NEPA's monopoly on the market. The market should be open and such plans should be finalised. Enough of treating cancer with panadol. Let us see what happens with the money, if this little is even going to be put to good use and if it will in the long run translate to more power.

Sometime our leader behave as if GOD will come down to solve our problems,

Let them take example of what happened in the Telecommunications sector and transfer same to power sector. FG has stopped spending money in the Telecoms sector because it's now in the hands of the private sector.

I think that's is the best thing to do in the power sector too. Releasing 100 trillion to NEPA/PHCN will just create more thieves and more probes in future.

I think what matters are the projects the funds are going to be applied to.

Is Yar'Adua committed to completing the NIPP projects initiated by his predecessor ? - This
is what really matters IMO.

They can release, i hope someone wont tap into or even siphon off the funds enroute to PHCN!

There are cabals working against Nigeria having a steady power supply and i hope in no time, they would be exposed!!!

The Sly:

Let Somebody shout Halleluyahhhhhhhhhhhhhhhhhhhhhhhhh!!!!

Pls I want to know the reason why you are shouting Halleluya, are u happy because the money will be embezzle and in no distance time a lot of probes will come out?

hmmm
@deor3 and Sky Blue, until the Federal Government do what you propose (i.e allowing private bodies to take part in running of the power sector), I don't think there will be any cause to celebrate yet. I hope this money won't end others in the past had ended

faoni572:

Please I want to know the reason why you are shouting Halleluya, are u happy because the money will be embezzle and in no distance time a lot of probes will come out?

Wow. . . . . . . . .I can't believe you actually took me serious.
We all know whats gonna happen next. . . . . Another uninterrupted looting session.
Thats what i'm celebrating. . . . . . .Let the looting begin!!!!!

Sky Blue:

Sorry, i don't see any reason to celebrate. What is the money going to be used for and i hope it is in no way going to be used as a means of further strengthening NEPA's monopoly on the market. The market should be open and such plans should be finalised. Enough of treating cancer with panadol. Let us see what happens with the money, if this little is even going to be put to good use and if it will in the long run translate to more power.

Im not celebrating hombre.
We already know where the money is going. . . . This is Nigeria!!
But i still believe it would at least add like [b]50[/b]mega watt to the 900 the Country is currently generating. . .

I think the people should also demand to know why now. Why did it take him so long to release funds being that he/ not his twin brother, declared a state of emergency almost a year ago.