Power Sector Updates

Power Sector Recovery Programme:
The Power Sector Recovery Programme (PSRP) is a series of carefully thought-out policy actions, operational and financial interventions by the Federal Government, to attain financial viability of the power sector, and reset the Nigerian Electricity Supply Industry (NESI). Approved by the Federal Executive Council in March 2017, it includes a 701 billion Naira Payment Assurance Plan, which will enable the Nigerian Bulk Electricity Trader (NBET) pay its obligations to GenCos who can in turn pay their gas suppliers, equipment suppliers, banks and other partners.

Business and Investment Opportunities:
Take advantage of the opportunities for private sector investors in Nigeria's power sector. One success-story-in-progress is the Azura Power Plant, a 450MW project under construction in Edo State. Stalled for more than 1 year prior to the emergence of the Buhari administration because of delays in obtaining the necessary Government approvals. The project finally reached financial close in January 2016, after President Buhari signed the necessary agreements required by the investors to raise funds. So far, construction of the IPP has created about 1,000 jobs. The project represents a total investment of close to US$1 billion.

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After fashola increased tariff?

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