The Minister of Power, Professor Chinedu Nebo, has called on the banking sector to finance electricity generation and distribution in the country.
The Minister told the Bankers’ Forum in Abuja that more funding would be needed from the banking sector to realize the goal of stable electricity supply.
According to the Minister, Nigeria currently generates about four thousand megawatts of electricity; a situation he believes would improve with time.
While the bankers re-assured the Minister of their continued support, they also expressed concern about the recent drop in power generation and its effect on their investments.
Mr. Nebo, however, assures the Bankers Forum that efforts were being made to boost gas supply, in other to improve on power generation and distribution.
The Federal Government had earlier this month promised to invest three billion US Dollars between 2014 and 2018, for transmission capacity expansion. It has also set up a special task force on power to realize her goals.
