Nigeria needs billions to upgrade grid
Despite its vast natural resources, Nigerians suffer from a lack of stable electricity availability. Barth Nnaji, a special adviser to Nigerian President Goodluck Jonathan, said the government can't tackle the energy crises alone.
"At least $5 billion is required every year to take care of infrastructure for power generation, while additional $5 billion is needed to deal with distribution and transmission facilities," he was quoted by Nigerian newspaper Next as saying. "The government just cannot afford it."
The adviser said that for the first time in decades, Nigeria has set up a national plan to combine the efforts of those who generate electricity and those who distribute electricity.
He added that that private sector was obligated to take responsibility for providing electricity in the country.
"That is why the president is saying that from next year, generation and distribution will go into private hands as a way of reducing all kinds of issues that are in the system, including the corruption," he said.
Related News
Explainer: Europe gets ready to revamp its electricity market
STOCKHOLM - European Union energy ministers meet on Monday to debate upcoming power market reforms. Brussels is set to propose the revamp next month, but already countries are split over how to "fix" the energy system - or whether it needs fixing at all.
Here's what you need to know.
POST-CRISIS CHANGES
The European Commission pledged last year to reform the EU's electricity market rules, after record-high gas prices - caused by cuts to Russian gas flows - sent power prices soaring for European companies and citizens.
The aim is to reform the electricity market to shield consumer energy bills from short-term…
