Joseph Bakare/Ijeoma Agudosi
The Bureau of Public Enterprises (BPE) has disclosed that core investors have invested above N300bn into the Power Holding Company of Nigeria’s successor electricity generation and distribution firms.
The Director-General, BPE, Mr. Benjamin Dikki, said in a statement that the investment was for the upgrade of power infrastructure, which had become obsolete over the decades, noting that new technologies were now evolving.
He said the Egbin Power Plant had invested over N50bn to rehabilitate the Line 6 of the plant to generate extra 240 megawatts of electricity and explained that the cumulative effect of the investment was that power supply in Lagos and its environs would be greatly enhanced for the benefit of consumers.
Dikki noted that because of infrastructure development by the investors, power interruptions in the country had reduced.