LCCI urges private firms to eject fresh funds into power sector
The Lagos Chamber of Commerce and Industry (LCCI) has advised private firm owners to inject fresh funds into the power sector to boost the nation’s power supply in 2017.
The LCCl Director General, Muda Yusuf, gave the advice in an interview with the News Agency of Nigeria (NAN) in Ota on Sunday.
He said that the provision of a stable power supply would make Nigerians to be self reliance and attract foreign investors into the country.
Muda, however, urged the Federal Government to ensure prompt payment of all arrears owed to 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 GENCOs and the Gas suppliers.
“The private sector owners of the power firms should also inject greater equity finance into their investments, ‘’he said.
He said that the ability of the Federal Government to address the hitches in the power sector would reduce unemployment and galvanise the economy.