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National Grid Collapse:Atiku Proposes Way Out To Ailing Electricity

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National Grid Collapse: Atiku Proposes Way Out To Ailing Electricity

 

Atiku Proposes Way Out To Ailing Electricity

Atiku Abubakar

 

Former vice-president of Nigeria and now the Peoples Democratic Party, [PDP] presidential candidate, Atiku Abubakar has proposed a way out of the incessant collapse of the national grid which has led to epileptic power supply.

 

Atiku proposed novel infrastructure financing in the power sector.

 

He stated that the financing would include facilitating a review of the financial, legal, and regulatory environments in order to encourage private investment in the power sector.

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Atiku wrote on his Facebook page: “I am reliably informed that there was a total National Grid Collapse at precisely 12:23 pm today. This is one collapse too many. It is the 6th time this is happening this year alone.

 

“Due to the priority that I place on the power sector upon which the successes of other sectors are hinged, I am proposing innovative financing of infrastructure that will involve the facilitation of a review of the financial, legal, and regulatory environment to promote private investment in power, among other sectors.

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“I’ll promote the incentivisation, with tax breaks, a consortium of private sector institutions to establish an Infrastructure Debt Fund (IDF) to primarily mobilise domestic and international private resources for the financing and delivery of large infrastructure projects across all the sectors of the economy.

 

“The IDF will have an initial investment capacity of approximately US$20 billion. In addition, I’ll cause the creation of an Infrastructure Development Credit Guarantee Agency to complement the operation of the IDF by de-risking investments in infrastructure to build investor confidence in taking risks and investing capital.”

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