Nigeria has handed over the Zungeru electricity supply center to entrepreneurs The Nigerian government has handed over the management of th...
Nigeria has handed over the Zungeru electricity supply center to entrepreneurs
The Nigerian government has handed over the management of the Zungeru power plant to a private company called Penstock Limited.
This was stated in the first meeting of the NCP board that assesses the government assets that should be sold this year which was held at the presidential palace in Abuja, the capital of Nigeria.
It is expected that the move will improve the electricity supply and contribute significantly to meeting the needs of citizens in terms of energy.
An agreement was reached on December 13, 2023 between the BPE and Penstock Limited.
After the approval of the NCP board, the company agreed to pay fifty percent of the start-up fee on January 5.
The Vice President of Nigeria, Kashim Shettima, who presided over the meeting, explained the determination of the federal government to redefine the bank to support agricultural activities in order to develop the agricultural sector and food production in the country.
Speaking at the meeting, Shettima explained the role the bank will play in providing food on the ground where he talked about the bank's branches in Nigeria.
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