Business

FG Set To Boost Power Sector Investment To Drive Economic

Published

8 months ago

July 15, 2024

Joel Ajayi

In its renewed determination to drive economic growth and development in the country, the Federal Government has continued to engage with relevant stakeholders with a view to boosting power sector investment as a major priority area for achieving the desired objective.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, while chairing a meeting with World Bank delegates, led by Dr. Ndiamé Diop, Country Director for Nigeria, and Ms. Olu Verheijen, Special Adviser to the President on Energy, in his office in Abuja, today, reaffirmed President Bola Ahmed Tinubu Administration’s commitment to repositioning the economy for the future of Nigeria.

He stated that the meeting was held to discuss innovative ways to drive Nigeria’s power sector forward.

HM Edun informed that the meeting focused on World Bank-supported initiatives, including the Power Sector Recovery Operation (PSRO) and the Distribution Sector Recovery Program (DISREP), aimed at improving power distribution and management systems in order to ensure economic growth and development in the nation
Key highlights from the meeting include:

– Plans to roll out 3.5 million meters to enhance power distribution- $50 million funding for state solar plant pilots and infrastructure upgrades- Measures to support tariff frameworks, market reforms, and co-financing the Transmission Company of Nigeria’s Performance Improvement Plan.

This collaboration aims at strengthening Nigeria’s power sector, enhancing energy access, promoting economic growth and development, improving job creation as well as poverty alleviation in line with the Renewed Hope Agenda of the present administration.

The Honourable Minister and World Bank delegates expressed their commitment to working together towards achieving these goals for the benefit of all Nigerians.

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Business

FG Reiterates Commitment To Bussines-Friendly Environment

Published

2 days ago

March 19, 2025

The Gleamer

Joel Ajayi

In a move to boost Nigeria’s economic growth and development, the Federal Government has reaffirmed its commitment to creating a safe and conducive environment that will foster private sector investments aimed at unlocking new economic potentials as well as create job opportunities for the teeming youth in the country.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun gave the assurance today in his office in Abuja when he hosted Alhaji Aliko Dangote, President of the Dangote Group, for crucial discussions on enhancing private sector participation.

The Minister reaffirmed President Bola Ahmed Tinubu’s commitment to creating a business-friendly environment that fosters enterprise growth while emphasizing the government’s dedication to implementing supportive policies and reforms aimed at unlocking the private sector’s potential, driving innovation, and accelerating sustainable economic transformation.

Also present at the meeting were Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adelabu Adedeji, Chairman MRS Oil & Gas, Sayyu Dantata, and Maryam Ibrahim, Special Adviser to the Minister

With the government’s commitment to creating a business-friendly environment and the private sector’s eagerness to invest, Nigeria is poised for sustainable economic transformation and growth. Thus, the partnership between the government and the Dangote Group is a significant step towards unlocking the country’s economic potential.

Signed
Mohammed Manga, FCAI
Director, Information and Public Relations
March 18, 2025

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