in renewable energy, technology and other sectors of the Nigerian economy, according to Vice President Yemi Osinbajo.
“I think what has happened is that some of the contractors would prefer to sell wholesale power to the national grid; of course, that gives more certainty with regards to their revenues. But what we have tried to encourage now is more of the willing buyer, willing seller arrangement.” “There are millions of households waiting to be served with power; we think that simply opening the market and ensuring that people are able to build their contacts and realise profits from their supplies is really what government would rather do.”
According to him, “the first thing is to democratise that space, which is what we are doing so that there is adequate competition. There are progressive stuffs going on even without any of the reforms yet, but the reforms are major. Digitizing Nigeria Drive, that is really what this is all about. The whole idea is to open the space up for competition.“I think one of the most important things to bear in mind is that we intend to open up the space; we don’t intend to control the space.
Source: News Formal (newsformal.com)
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