By Elizabeth Nkemodi
SHAREHOLDERS in Abuja Electricity Distribution Plc, AEDC, have said the approval of the settlement of outstanding electricity bills owed by Federal Government ministries, departments and agencies; MDAs by President Muhammadu Buhari would revamp the ailing Nigerian power sector.
Chairman, Board of Directors, AEDC, Ambassador Shehu Malami, described the decision as a major step towards ensuring the growth and development of the nation’s economy.
The decision was contained in President Buhari’s 2017 National Budget presentation at the National Assembly, Wednesday last week.
President Buhari had stated: ‘‘During 2016, we conducted a critical assessment of the power sector value chain, which is experiencing major funding issues. Although Government, through the CBN and other Development Finance Institutions has intervened, it is clear that more capital is needed.