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HomeNewsAtiku Tasks Federal Govt, States On Conducive Investment Conditions

Atiku Tasks Federal Govt, States On Conducive Investment Conditions

 

Former Vice President Atiku Abubakar emphasized the need for Nigeria to open up the entire power sector for private investments, highlighting the importance of a conducive business environment. He commended the commissioning of the 188MW Geometric Power Plant in Aba, Abia State, and called for double efforts to support investors.

Atiku has urged governments to create a competitive business environment for private enterprises by reducing costs, improving margins, and making policies more predictable. He also emphasized the need for distribution companies to recover full costs for power supplied to consumers and a metering program for all customs. Atiku praised Nnaji and his team for their efforts despite political and business obstacles and praised Abia State Governor Alex Otti’s commitment to the project.

Nigeria’s Electricity Supply Industry (NESI) faces a $100 billion infrastructure gap over the next 30 years, with a core infrastructure stock of 35-40% of GDP. Atiku, a private sector advocate, believes Nigeria cannot provide all infrastructure needs without sacrificing investments in education, health, and social services. He believes the Abia state government cannot execute the mega project with the available resources, highlighting the need for a private sector-friendly business environment.

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