The Minister of Power, Works and Housing, Babatunde Fashola, has restated the Federal Governmentâ€™s determination to develop stable power supply, good road network and affordable housing for Nigerians.
This is contained in a statement made available to the News Agency of Nigeria (NAN) on Sunday in Abuja by the Ministerâ€™s Special Adviser (Communications),Hakeem Bello.
It said that Fashola gave the assurance when he spoke at the African Alliance 2016 Investors Day in Lagos.
It stated that the ministry was determined to achieve results by doing things differently to develop sustainable infrastructure to convert current challenges to opportunities for economic growth.
He was quoted to have decried the problems inherent in the entire power chain, â€œfrom distribution to transmission, generation and gas supply, including a cross-cutting liquidity problemâ€.
The statement said the existing gap of meter supply in the distribution segment of the power chain had created enormous opportunities for local production for estimated three million consumers.
â€œLocal producers or investors are expected to meet a significant local content participation that would help Small and Medium Enterprises supply an estimated three million consumers who needed to be metered.Â Apart from metering, the distribution companies have aging assets: Transformers, ring main units, poles, cables, breakers and so on, some of which are 20 to 30 years old.Â It is a problem on one hand and enormous opportunity on the other hand,â€ it said.
The statement stated that the ministry planned to complete about 47 transmission projects to deliver 1,000 MW more carrying capacity this year to expand national growth plan.
The statement said that the Federal Government, in spite of low oil revenue, had upgraded budgetary allocation to ensure completion of existing roads across the six geo-political zones.
â€œThis is the first step to sustainability. But it is not enough to budget.Â It is important to implement the budget and use the finances properly.Â We plan to phase 206 roads over three years to ensure completion or substantial progress of existing roads with heaviest traffic and strategic economic significance in each of the six geo-political zones.â€
The statement also reported the Minister as saying that an agreed common purpose and parameters must be defined to have a sustainable and affordable housing design that had national acceptability.
The minister disclosed that the Federal Government, in partnership with the private sector, was on a Nigerian housing model that would consider geo-political cultural differences.