Development Partners Pledge $2billion For Electricity Sector

A total of 2 billion dollars is expected to be contributed by development partners by 2018 for the development of Nigeria’s power sector.

The Country Representative of the United Nations Industrial Development Organisation, UNIDO, Dr. Patrick Kormawa, who announced the pledge in Abuja, said that the gesture is aimed at improving generation, distribution and transmission of electricity.

The UNIDO Country Representative said that the 2 billion dollars is expected to be given as grant to ensure efficient power supply in the country, as increased financial support for the sector was necessary.

Dr Kormawa also pledged continuous support for other sectors of the economy begging for urgent attention.

Major players in the power sector and members of civil society organisations converged on Abuja to brainstorm on how to maintain sustainable service delivery in the post privatisation era.

The Minister of Power, Professor Chinedu Nebo, explained that shortage of gas supply, vandalism and fragile transmission grids are some of the hiccups the Federal Government has to contend with, in spite of the financial commitment by development partners.

However, the Chairman, House of Representatives Committee on Power, Patrick Ikhariale, warned against fraudulent practices by the investors to ensure that Nigerians enjoy services provided by the succeeding generation and distribution companies.

 

Delta State Signs $820,000 MoU with UNIDO To Establish Shoe Factory

To ensure that its new mantra “Delta Beyond Oil” becomes a reality, the Delta state government has signed an $820,000 Memorandum of Understanding with the United Nations Industrial Development Organisation (UNIDO).

The agreement will see to the establishment of footwear and leather businesses to provide job opportunities and boost the state’s socioeconomic development.

Country representative of UNIDO, Dr Patrick Kormawa, expressed the confidence that after intensive training, the programme will churn out 2,000 established businesses in the state in the next two years.