This Day (Lagos)

10 February 2014

Nigeria: Jonathan - U.S.$900 Billion Needed to Fix Energy

Photo: Vanguard
Nigeria's energy sector.

President Goodluck Jonathan Monday said about $900bn was needed by Nigeria to properly address its energy sector in the next 30 years.

Jonathan spoke at the Banquet Hall, Presidential Villa, during the Nigeria Power Financing Conference.

The president noted that high percentage of the fund would have to come from the private sector.

The conference has "Private Sector Financing/Support for the Power Sector and Infrastructure" as its theme.

The president was represented by Vice President Namadi Sambo.

According to Jonathan, the power sector alone, $10 billion, was needed for generation and distribution to add 5,000 megawatts to the national grid.

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