The Federal Government has concluded plans to review the current privatization of the power sector to boost power supply and win back investors who left the country to neighboring countries.
The executive director of the Niger Delta Power Holding Company Ltd, Engr. Ifeoluwa Oyedele, told newsmen in Akure, the Ondo State capital, that to make the new energy plan a success, there would be need to re-visit the tariff issues to adapt more cost-reflective pricing and bankable investment climate.
Oyedele said the review would include building and accommodating other trending global power sources such as hydro, coal, nuclear, solar and wind energies to improve power production.
Oyedele said under the new arrangement, government would build mini grids/renewable energy like the solar in remote areas and villages across the country with a view to fast tracking the resuscitation of cottage industries.
Speaking earlier, the Akure branch chairman of the Nigerian Society of Engineers, Mr. Williams Abe, said only 40% of the state enjoyed public power supply for maximum of five hours per day.
In his goodwill message, Ondo State Governor Arakunrin Oluwarotimi Akeredolu said his administration would patronize local engineers to checkmate human capital flight.
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