Liberalising power sector’ll yield $30bn investment in 3 years – Chike-Obi

The pioneer Managing Director of the Assets Management Corporation of Nigeria (AMCON), Mr. Mustafa Chike-Obi has said that liberalization of the power sector will make it profitable, enable Nigerians have cheap electricity supply on the long run and attract over $30 billion of investment in the next three years in that sector.

He said since it is believed that everyone deserves electricity much as everyone deserves to have telephone or nice car, the only way to lift the society to that point is to charge the people who need electricity the most, at the market price.

Chike-Obi who spoke at the monthly capacity building forum of the Finance Correspondents Association of Nigeria (FICAN), threw a challenge that if the power business is made profitable, whereby tariff on electricity is removed and power companies allowed to sell to any person they wish to sell to, at market determined price, he can guarantee Nigeria a $30 billion worth of power sector investment in three years.

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