Owners of the privatised 11 electricity distribution companies that were created from the unbundling of successor power generation and distribution companies of defunct Power Holding Company of Nigeria (PHCN) in the ongoing power sector reform programme are expected to invest an approximately sum of $1,788,315,000 in upgrade and expansion of their distribution networks within the next five years.
The total amount is expected to be ploughed in by the investors as capital expenditure (Capex) in the 11 distribution companies. It was learnt that the money would be expended on the provision of core operational hardware like transformer, metering facilities and others which are mostly deployed for the distribution of electricity across the various distribution zones.
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