$267 Billion Is Needed Into Nigeria’s Electricity Sector By 2040 To Meet Rising Demand - eritvnews

$267 Billion Is Needed Into Nigeria’s Electricity Sector By 2040 To Meet Rising Demand


Stable Power Generation in Nigeria will continue to be a nightmare because Nigeria is corruption personified. If all the money in the world is invested into Nigeria’s power sector it will not solve the problem of electricity in this part of the world.

The G20’s Global Infrastructure Hub (GI Hub) has called for the investment of $267 billion into Nigeria’s electricity sector by 2040 to meet rising demand. In its latest report tagged, Global Infrastructure Outlook, GI Hub, also estimated that the country requires $878 billion to boost its infrastructure over 25 years. According to the report, to achieve the Sustainable Development Goals (SDGs) for electricity and water, an additional $187 billion will be needed by 2030, bringing the overall investment needs to $1.06 trillion.

The report also said that globally, the cost of providing infrastructure to support global economic growth will reach $94 trillion by 2040, with a further $3.5 trillion needed to meet the UN Sustainable Development Goals (SDGs) for universal household access to drinking water and electricity by 2030, bringing the total to $97 trillion.

Source: Vanguard 

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