Atiku Abubakar, presidential candidate of the Peoples Democratic Party, PDP, has proposed a solution to the ongoing collapse of the national grid, Charmingpro reports.
Atiku proposed novel infrastructure financing in the power sector.
He stated that the financing would include facilitating a review of the financial, legal, and regulatory environments in order to encourage private investment in the power sector.
“I am reliably informed that there was a total National Grid Collapse at precisely 12:23pm today,” Atiku wrote on his Facebook page. This is one too many collapses. This is the sixth time this has happened this year.
“Because the power sector is critical to the success of other sectors, I am proposing innovative infrastructure financing that will include the facilitation of a review of the financial, legal, and regulatory environment to promote private investment in power, among other sectors.”
“I’ll encourage a consortium of private sector institutions to establish an Infrastructure Debt Fund (IDF) to primarily mobilize domestic and international private resources for the financing and delivery of large infrastructure projects across all sectors of the economy through tax breaks.”
“The IDF’s initial investment capacity will be around $20 billion.” In addition, I will push for the establishment of an Infrastructure Development Credit Guarantee Agency to supplement the IDF’s operations by de-risking infrastructure investments and increasing investor confidence in taking risks and investing capital.