Atiku recommends solutions to electricity problem

People's Democratic Party (PDP) presidential candidate Atiku Abubakar has proposed a solution to the ongoing collapse of the national power grid.

Atiku proposed innovative financing of infrastructure in the energy sector.

He said the funding would include facilitating a review of the financial, legal and regulatory environment to encourage private investment in the energy sector.

In a post on his Facebook page, Atiku wrote:: “I am reliably informed that there was a total National Grid Collapse at precisely 12:23 pm today. This is one collapse too many. It is the 6th time this is happening this year alone.

“Because of the priority I give to the energy sector, on which the success of other sectors depends, I propose innovative infrastructure financing that includes a review of the financial, legal and regulatory environment to encourage private investment in electricity, among others.

“I will use tax breaks to incentivize a consortium of private sector institutions to set up an Infrastructure Debt Fund (IDF) primarily to mobilize private resources at home and abroad to fund major infrastructure projects across all sectors of the economy and implement.

“The IDF will have an initial investment capacity of approximately US$20 billion. In addition, I’ll cause the creation of an Infrastructure Development Credit Guarantee Agency to complement the operation of the IDF by de-risking investments in infrastructure to build investor confidence in taking risks and investing capital.”

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