President Muhammadu Buhari has assured Nigerians that during his tenure, the national grid has been modernised and there are hundreds of on-going projects and initiatives to attract funding from investors to further improve the power sector.
The president made the revelations in a question and answer session with the international media outlet, Bloomberg News, published on Tuesday.
Buhari also said he has started an initiative named Presidential Power Initiative (PPI) a government-to-government initiative between Nigeria and Germany to upgrade the electricity grid with a $2 billion investment.
This is coming after the countrys national grid collapsed more than three times this year alone.
President Buhari also added that a Bill to allow State governments to generate and transmit their own electricity will soon be signed.
This will facilitate and enable states and local businesses to transmit excess supply to the grid,, the President noted in the publication.
Currently, there has been a decentralisation of the national grid through renewable-driven mini-grids. This electrification project cost $550 million and more than 20,000 Standalone Solar Systems and Solar Hybrid mini-grids have been deployed to over 250 locations, he further stated.
