Liquidity needed to solve power challenges – Finance Minister Edun

Nigeria's Minister of Finance, Wale Edun, said sufficient liquidity would solve the challenge of power supply. He spoke on Monday at a one-day public hearing on power, chaired by Senator Enyinnaya Abaribe, where the Managing Director of Niger Delta Power Holding Company, NDPHC, Chiedu Ugbo, declared, before the Senate Committee on Power, that the Calabar Power Generation Company is the best-performing power plant in the country.

According to him: 'The issues on ground about contract agreements being investigated by the Senate Committee on Power are not about restructuring but providing the required liquidity, which the Ministry of Finance is doing through collaboration with the Nigerian Liquified Natural Gas, NLNG. 'Since NLNG pays for gas in dollars, the Ministry is collaborating with it for a practical solution of bringing liquidity into the age-long contract agreement through a Deed of Transfer.

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