The National Economic Council, NEC, yesterday announced that within the first six weeks of President Muhammadu Buhari administration, there has been a 29 percent rise in power generation.
This was as the council announced the development of a website www.nesistats.org that will enable Nigerians monitor developments in the power sector as a way of increasing transparency in the power sector.
This was made public by the Governor of Jigawa State, Alhaji Badaru Abubakar who joined the Anambra State Governor, Willie Obiano, who briefed State House correspondents on the outcome of the meeting presided over by the Vice President, Professor Yemi Osinbajo.
NEC further revealed that the repair of hydro standard capacity of the Kainji, transportation of gas from power plants to industrial off takers and fixing of major transmission constraints were some of the top priorities of the government.
It directed state governments to ensure prompt payment of electricity bills by the vendors as well as provision of security to avoid vandalisation of distribution assets in the country.
The Vice President and the state governors, at the meeting, brainstormed on several economic issues, ranging from the exchange rate of the naira, to latest developments in the power sector since the inception of the Buhari administration.
The Central Bank Governor, Mr Godwin Emefiele, briefed them on why the naira has been unstable in the money market and what he is doing to address the situation.
NEC, which expressed worry that states are very much indebted to banks and the need to address the fiscal imbalance, noted that out of 22 states that have applied for restructuring, only eleven have scaled through with the documentation.
The council also announced the extension of the Transmission Company of Nigeria, TCN, management of the power sector by another year to enhance the performance in the power sector.
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