BPE Says Power Investors Need 5 Years to See Returns on Investment

BPE

The Bureau of Public Enterprises (BPE) has said that it would take five years for power distribution and generating companies to reap requisite returns on their investment in the sector.

The Director General of BPE Mr Benjamin Dikki, who disclosed this during the Bureau’s evaluation of the privatized power entities in the country, said this is because of the age long rot in the distribution networks which heightened aggregate technical and commercial losses in the system.

He said that most of the distribution and generation companies did not witness major turnaround before privatisation and added that the fact that no power component is currently being produced locally in the power sector makes it inevitable for the investors to import same which has severe financial implications on them.

“Nigerians should sacrifice at the initial stage so that necessary investment can be made in the power sector” he said.

Source

(Visited 73 times, 1 visits today)

Local News

Related posts

Top
Powered by Nextier