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The Nigerian government has commenced negotiations with operators of the Electricity Distribution Companies (DisCos) to cede some of their shares to accommodate new investors.
The country's Minister of State for Budget and National Planning, Mrs. Zainab Mohammed revealed this at the end of the Nigeria Economic Summit held in Abuja, precisely on Thursday, 12th October 2017.
"And we have now come to the point where investors in the power sector must come together and decide to cede some of their holdings to enable new investors with expertise come in to enable us grow the power sector at the pace we want.
"It involves negotiating with existing owners and also government. No new investor will be interested to come in with the level of tariff obtainable now. There will be an impact on tariff. Starting point will be Discos.
"The power sector will be opened up to new investment. It is very clear that no new investor will be coming without having a satisfaction from the tariff that will be obtainable in the industry.
“We will try to attain to optimal level that will make an impact on the tariff. The starting point will be the Discos.” she landed unequivocally.
Compiled by: Rostrum
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