Connect with us

News

We’ve Invested N900bn On Power Since 2015 – Osibanjo

Published

on

Vice-President Yemi Osinbajo says the current administration has invested N900 billion in the power sector since it assumed office in 2015.Osinbajo spoke when he paid a courtesy visit on Chike Edozien, the asagba of Asaba, on Friday.

”Since assumption of office, we have invested so far in terms of support N700 billion in the power sector. Earlier, we invested N200 billion,” he said.
The vice president said the federal government was in the process of investing another N600 billion in the sector.

On further steps to improve power supply in the country, the vice president said the federal government had decided to take a second look at the power sector.

According to him, one of the reasons why there are challenges in the power sector is that each of the distribution companies (DisCos) controls a particular territory.

”And now we are saying that any company that wants to provide power to any territory, should be able to provide power for the territory and the people,” he said.
‘We have been able to break the existing monopoly in the power sector. Whether upgrade or not, the DisCos should be able to serve the people. Another strategy we are trying to introduce is to open up the power sector by restructuring.” Source- thecableng

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

AMVCA 2024: Full Winners List

Published

on

Below are the list of winners👇

  • Best Movie: Breath of Life
  • Best Lead Actor: Wale Ojo(Breath of Life)
  • Best Lead Actress: Kehinde Bankole (Adire)
  • Best Indigenous West Africa. Femi Adebayo Jagun Jagun
  • Best writing movie: Fumilayo Rans0me Kuti
  • Best Scripted: Slùm King
  • Best Costume Design: Jagun Jagun (Lola Awe)
  • Best Supporting Actress: Genoveva Umeh (Breath of Life
  • Best Supporting Actor: Ademola Adedoyin (Breath of Life)
  • Best MultiChoice Talent Factory Movie: Our Dàrk Past
  • Best Makeup: Mami Wata (Campbell Precious Arebamen
  • Industry Merit Awards: Iya Rainbow aka Idowu Philips and Richard Mofe Damijo
  • Best Writing Award: Volume
  • Best Director: BB Sasore (Breath of Life)
Continue Reading

Foreign

Governor Sanwo-Olu Receives Prince Harry & Meghan Markle (Photos) 

Published

on

Lagos State Governor, Mr. Babajide Sanwo-Olu, received the Duke and Duchess of Sussex, Prince Harry and Meghan Markle, on Sunday.

The British Royal couple was received by Governor Sanwo-Olu; his wife, Dr. Ibijoke, and some members of the State Executive Council during a courtesy visit at Lagos House, Marina.

Prince Harry, accompanied by his wife, Meghan, is on a three-day visit to Nigeria to promote the Invictus Games, which he founded in 2014. The couples had a stopover in Lagos on Sunday.

The Invictus Games are aimed at raising funds and supporting serving members of the military as well as veterans to overcome their physical and mental illness or injuries, which would help them to develop a sense of belonging and increased self-esteem.

Speaking to journalists after a closed door meeting with Prince Harry and Meghan Markle, Governor Sanwo-Olu praised the British Royal couple for the work they are doing with Nigeria’s military men, especially on issues around mental health.

He said: “We are honoured to receive them (Prince Harry and Meghan Markle) at the Lagos House, Marina. We are excited about the ideas and what they are planning to do, especially with the office of the Chief of Defense Staff, General Christopher Musa, and his wife, Mrs. Lilian Musa.

“For Prince Harry, it has been a very interesting and informative trip to the country. He has seen a lot. And part of the things we are hoping he will take away is the diversity and extent of how big our country is, how we continue to ensure that we live together in peace and harmony, and what role Lagos plays in the whole conversation.

“They have been to Kano, Abuja, and now Lagos. I am sure they have their own experience of what Nigeria looks like. We have extended an additional invitation to them that they can always come back when they want to.

“We are indeed happy for what they are doing, especially for our military men, on the conversation around mental health issues and how they can galvanise their various NGOs to ensure that people who require their support, both in the military and private, can seek that support.

“Mental health issues are all around us. Denial and stigmatisation, are some of the things we talked about. And more importantly, at what point in Nigeria can we have the Invictus Games that Prince Harry is known for so that the true Nigerian competitiveness can also be reflected in those games”

Continue Reading

Foreign

US Announces African Infrastructure Venture Amid China’s Belt and Road Scrutiny

Published

on

In recent developments, the United States has announced plans to embark on its own infrastructure project in Africa, particularly in Zambia, the Democratic Republic of Congo, and Angola. This initiative aims to refurbish and extend the Lobito Corridor, a railway system that will stretch through mineral-rich regions, linking Zambia and the Democratic Republic of Congo to an Atlantic port in Angola.

This move comes at a time when China’s efforts to expand its influence in Africa through infrastructure investments, notably its Belt and Road Initiative (BRI), have faced scrutiny. Despite China’s investments, criticisms have emerged regarding the sustainability and completion of projects, prompting a shift in focus towards more manageable and sustainable initiatives.

The U.S, in collaboration with the European Union and African nations, is taking a proactive approach to ensure the success of the Lobito Corridor project. Key aspects include the involvement of private partners like the Africa Finance Corp., plans for long-term operation and maintenance, and capacity development strategies. This signifies a departure from past approaches and a commitment to transparent and sustainable infrastructure development.

Reflecting on China’s BRI, the U.S initiative seeks to learn from past experiences and avoid pitfalls encountered in previous projects. While China denies accusations of creating spheres of influence through its initiatives, concerns persist regarding the social, environmental, and economic impacts of its projects.

As the Lobito Corridor project progresses, attention is drawn to its potential connection with existing Chinese-built railways in the region, such as the Tazara railway linking Zambia and Tanzania. While the specifics are yet to be determined, the focus remains on practical and sustainable solutions that promote economic growth and benefit local communities.

Continue Reading

Trending