The Lagos Chamber of Commerce and Industry (LCCI) has advised private firm owners to inject fresh funds into the power sector to boost the country’s power supply in 2017.
Muda Yusuf, LCCl’s Director-General, , told the News Agency of Nigeria (NAN) in Ota that stable power supply would make Nigerians self-reliant and attract foreign investors into the country.
Yusuf, however, urged the Federal Government to ensure the prompt payment of arrears of all monies being owed power firms, as promised in the 2017 budget.
“Liquidity in the power sector should be enhanced to ensure improvement in power supply.
“It is equally important to ensure adequate capitalisation of the Electricity Bulk Trader to provide liquidity to the generating companies (GENCOs) and the gas suppliers.
“Owners of the power firms, who are in the private sector, should also inject greater equity finance into their investments, ‘’he said.
The LCCI D-G said Federal Government’s success in addressing the hitches in the power sector would reduce unemployment and galvanise the economy.(NAN)
