Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Energy

Grid collapse: Atiku proposes $20 billion Infrastructure Debt Fund for the financing of power, other sectors

William Ukpe by William Ukpe
July 21, 2022
in Energy, Politics
Atiku pledges recruitment of more security personnel, provide adequate equipment if elected
Share on FacebookShare on TwitterShare on Linkedin

The presidential candidate of the Peoples Democratic Party, Atiku Abubakar has reacted to news of another power blackout in Nigeria. The former Vice President stated that his administration will launch a $20 billion consortium of private sector institutions to establish an Infrastructure Debt Fund (IDF) to primarily mobilise domestic and international private resources for the financing and delivery of large infrastructure projects.

Atiku disclosed this in a statement on Twitter on Wednesday evening following a recent power blackout as a result of the collapse of the national grid.

Nairametrics reported a day ago that the Eko Electricity Distribution confirmed that the latest grid incident occurred at around 11.27am, Wednesday, July 20, 2022.

RelatedPosts

Tinubu describes Atiku as a liar and desperate, says he offered him VP ticket in 2007

Again, a black-out Monday

What Atiku is saying

He said, “I am reliably informed that there was a total National Grid Collapse at precisely 12:23pm today. This is one collapse too many. It is the 6th time this is happening this year alone.”

He added that due to the priority that he places on the power sector upon which the successes of other sectors are hinged, “I am proposing innovative financing of infrastructure that will involve the facilitation of a review of the financial, legal, and regulatory environment to promote private investment in power, among other sectors.

News continues after this ad


“I’ll promote the incentivisation, with tax breaks, a consortium of private sector institutions to establish an Infrastructure Debt Fund (IDF) to primarily mobilise domestic and international private resources for the financing and delivery of large infrastructure projects across all the sectors of the economy.

Atiku said the IDF will have an initial investment capacity of approximately US$20 billion and also 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.

News continues after this ad


I am reliably informed that there was a total National Grid Collapse at precisely 12:23pm today. This is one collapse too many. It is the 6th time this is happening this year alone.

— Atiku Abubakar (@atiku) July 20, 2022

What you should know

  • Nairametrics reported last month that President Muhammadu Buhari assured international investors that his administration is taking steps to improve Nigeria’s power supply despite constraints and bottlenecks which have seen multiple incidents of grid failures.
  • President Buhari said the Federal Government had earmarked $550 million to provide 20,000 Standalone Solar Systems (SHS), as well as Solar Hybrid mini-grids in over 250 locations.

Related

Tags: AtikuCollapsed national gridEko Distribution CompanyInfrastructure Debt Fund

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

inq
avatrade
Stanbic bank
Mega Millions
UBN
Hot forex
Access Bank
Bankers Committee
First bank






    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • Equity market gains N43 billion in market cap to erase previous day’s loss
    • Applause as LandWey earns ISO 9001:2015 Certification on Quality Management System
    • Court arraigns businesswoman and her company, Savannah Crest Investment for alleged N110 million investment fraud

    Follow us on social media:

    Recent News

    Closed Period, Investors' demand for Nigerian stocks climb, as portfolio investment gains N223.4 billion, NSE CGI down by 0.93%, as shares of Unilever, Dangote Sugar, PZ decline, Positive Sentiment drives N13.54 billion Appreciation in Market Capitalization

    Equity market gains N43 billion in market cap to erase previous day’s loss

    August 16, 2022
    Applause as LandWey earns ISO 9001:2015 Certification on Quality Management System

    Applause as LandWey earns ISO 9001:2015 Certification on Quality Management System

    August 16, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com