National Executive Council [NEC] has revealed that there had been overall increase in power supply by 29 per cent as of the first six weeks of the present administration.
The governor of Jigawa state, Muhamadu Badru who briefed newsmen after the NEC, said power generation reached 4,662MW by July 29.
The governor added that the council was informed that the Transmission Company of Nigeria’s management contract had been extended for another year.
To increase transparency in the power sector, the NEC also announced the development of a website www.nesistats.org that will enable Nigerians monitors’ developments in the power sector.
NEC said the repair of hydro standard capacity of the Kainji, transportation of gas from power plants to industrial off takers and fixing of major transmission constraints are some of the top priorities of the government.
NEC directed state governments to ensure prompt payment of electricity bills by the vendors as well as provision of security to avoid vandalisation of distribution assets in the country.
The vice president and the state governors, who form the National Economic Council, also brainstormed on several economic issues, ranging from the exchange rate of the naira, to latest developments in the power sector since the inception of the Buhari administration.
The Central Bank Governor, Mr Godwin Emefiele, briefed them on why the naira has been unstable in the money market and what he is doing to address the situation
The National Economic Council expressed worry that states are very much indebted to banks and the need to address the fiscal imbalance.
Out of 22 states that have applied for restructuring, only eleven have scaled through with the documentation.
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