Business
Electricity: Discos Under-Performing, FG Must Change Strategy -Osinbajo
The Vice President, Prof. Yemi Osinbajo, has expressed dissatisfaction over the performance of electricity distribution companies in the country, saying there is a need for a substantial change of strategy in order to meet the electricity needs of homes and businesses.
Osibanjo spoke, yesterday, at the inauguration of a 2x60MVA, 132/33kV substation and associated 132kV transmission lines in Abeokuta, Ogun State.
He lamented the inability of the Discos to distribute available grid power to consumers.
“The distribution capacity in the 11 Discos is significantly low, hovering around 4,000 megawatts on average with a peak at about 5,400MW. So, despite all the availability of about 8,000MW of generation and 7,000MW of transmission capacity, the lack of Disco infrastructure to absorb and deliver grid power to end-users has largely restricted generation to an average of about 4,000MW, and sometimes even falling below 4,000MW,” the Vice-President said.
The distribution and generation companies carved out of the defunct Power Holding Company of Nigeria were handed over to private investors on November 1, 2013, following the privatisation of the power sector by the President Goodluck Jonathan administration.
Osinbajo said, “It is evident that despite all the efforts that have been put into trying to expand the grid…the structure of the market today cannot deliver on the government’s promises to provide power for domestic and industrial use.
“A substantial change of strategy is necessary. There is clearly a need for a change of strategy. What we have done in the past has taken us to a point where there is clearly a change of strategy.”
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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