The Minister of Power, Professor Chinedu Nebo has said that the power sector needs about $5billion (N900billion) annually to expand infrastructure and increase electricity generation from its current 3,700 megawatts (Mw) to 20,000 Mw.
Nebo said the fund will be invested across the value chain to boost the growth of the sector.
“For the sector to grow its capacity to 20,000Mw, it needs to invest about $5billion annually on key infrastructural facilities. The generation, distribution and transmission need value additions in order to move the industry forward. The only way to do this is to improve on their existing infrastructure,” he said.