FG seeks private investment amid N10tn power sector spending

The Federal Government of Nigeria has spent over N10tn on the country's electricity sector since its privatization in 2013, according to Kenny Anuwe, Managing Director of FGN Power Company Limited. He emphasized that while government spending has kept the industry afloat, it is not enough to address Nigeria's electricity challenges.

Anuwe stressed the need for increased private sector participation and alternative financing models to accelerate infrastructure development. The discussion came at the sixth annual conference of the Power Correspondents Association of Nigeria, held in Abuja, where stakeholders examined Nigeria's roadmap to reliable and affordable power supply.

The conference, themed " $1trn Economy: Nigeria’s Roadmap to Reliable and Affordable Power Supply," raised questions about the outcomes of the 2013 power sector privatization, which transferred ownership of distribution and generation companies to private investors while retaining government ownership of the transmission network.