These steps, conceived within a sequence of sector reforms, confirm Government’s commitment to enforcing decisions taken as a nation to move from a vertically integrated Government owned statutory monopoly that did not serve our power needs, to a private sector led industry –with Government as guarantor, regulator and policy maker– that achieves the objective of developing a better and sustainable power sector as quickly as possible.
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Showing posts with label electricity industry. Show all posts
Showing posts with label electricity industry. Show all posts
Saturday, 4 March 2017
COMMUNIQUE: POWER SECTOR PAYMENT ASSURANCE PROGRAM FOR POWER GENERATION COMPANIES
In recognition of the critical role that energy and access to electricity plays in economic growth and poverty reduction, the Federal Government of Nigeria (FGN) as part of its Economic Growth and Recovery Plan, at its Federal Executive Council meeting of 1st March 2017 has taken far-reaching steps to reset the electricity industry.
These steps, conceived within a sequence of sector reforms, confirm Government’s commitment to enforcing decisions taken as a nation to move from a vertically integrated Government owned statutory monopoly that did not serve our power needs, to a private sector led industry –with Government as guarantor, regulator and policy maker– that achieves the objective of developing a better and sustainable power sector as quickly as possible.
These steps, conceived within a sequence of sector reforms, confirm Government’s commitment to enforcing decisions taken as a nation to move from a vertically integrated Government owned statutory monopoly that did not serve our power needs, to a private sector led industry –with Government as guarantor, regulator and policy maker– that achieves the objective of developing a better and sustainable power sector as quickly as possible.
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