NEC Announces Increase In Power Generation by 29 Per Cent

NEC Announces Increase In Power Generation by 29 Per Cent

The National Economic Council (NEC) has announced a 29 percent increase in power generation during the first six weeks of the Buhari administration.

The NEC also announced the extension of the Transmission Company of Nigeria (TCN) management of the power sector by another year to enhance the performance in the power sector.

To increase transparency in the power sector, the NEC also announced the development of a website www.nesistats.org that will enable Nigerians monitor developments in the power sector.

This was made known to State House correspondents by the Governor of Jigawa State Alhaji Badaru Abubakar who joined the Anambra State Governor Willie Obiano, who briefed on the outcome of the meeting presided over by the Vice President, Professor Yemi Osinbajo.

NEC also said the repair of hydro standard capacity of the Kainji, transportation of gas from power plants to industrial off takers and fixing of major transmission constraints are some of the top priorities of the government.

NEC directed state governments to ensure prompt payment of electricity bills by the vendors as well as provision of security to avoid vandalisation of distribution assets in the country.

The vice president and the state governors, who form the National Economic Council, also brainstormed on several economic issues, ranging from the exchange rate of the naira, to latest developments in the power sector since the inception of the Buhari administration.

The Central Bank Governor, Mr Godwin Emefiele, briefed them on why the naira has been unstable in the money market and what he is doing to address the situation

The National Economic Council expressed worry that states are very much indebted to banks and the need to address the fiscal imbalance.

Out of 22 states that have applied for restructuring, only eleven have scaled through with the documentation