Expert urges sale of some oil, gas assets to develop power sector

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An economist, Mr. Bode Augusto has called on the federal government to sell some assets in the oil and gas sector to finance power infrastructure.

Augusto, gave the advice in his keynote address at the 2018 Vanguard Economic Discourse yesterday in Lagos, maintained that money realised from the assets sales should be invested in the sector to improve the National Grid.

According to him, “More money should be invested in the National Grid to ensure evacuation and effective delivery to Distribution Companies (DISCOs) in order to provide regular electricity supply.

“It is unfortunate that our power sector reform privatisation is not complete with the control National Grid by the government. The National Grid should be private-sector owned for effective management.

“Part of the proceeds of sale of assets should also be used to expand our rail sector by building the tracks.

“Government should also encourage private investor to participate in the rail sector.

“Government should also negotiate the tariff with investors so that the masses will not suffer,’’ he said.

Augusto said the country was not investing enough on infrastructure development.

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