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Acting President Yemi Osinbajo on Tuesday said the Federal Government would soon release a second batch of the N701bn intervention fund to the Nigeria Bulk Electricity Trading Plc.
He said the fresh lifeline was meant to boost the power sector value chain. Osinbajo disclosed this at the inaugural Nigeria Renewable Energy Roundtable organised by the Ministry of Science and Technology in partnership with the Nigerian Economic Summit Group and Heinrich Boll Stiftung, Nigeria, at the old Banquet Hall of the Presidential Villa, Abuja.
He said the government was committed to further restructuring the power sector. According to the acting President, the release of the fresh fund will free up the value chain, which has created several problems. “We hope that this injection (of the fund) will help. We are also looking at several other reforms in the sector, hoping that the market can become self-sustaining, independent and runs on its own and frees up all of the private sector energy that is waiting to come into the market,” he said.
