In a bid to tackle these challenges and promote efficiency in the area of operations in the power industry, the Nigerian government unbundled the Power Holding Company of Nigeria (PHCN) in 2013 and privatized the generation and distribution segments of the sector. With the privatization, 11 distribution companies (DisCos) and 6 generation companies (GenCos) were birthed, while the transmission of electricity remained under the control of the Federal Government.
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Sanwo-Olu disclosed this at the official inauguration of the newly built Ekiti State Governor’s Lodge/Liaison office in Ikeja GRA, Lagos State on Monday, as part of activities marking the third year anniversary of Governor Fayemi administration.
Prof. Osinbajo said Ekiti has economic potential and Gross Domestic Product (GDP) that is higher than some African countries, describing the state as a land of limitless opportunities for investment in agribusiness, technology and knowledge economy.
NECA’s Director-General, Dr Timothy Olawale, who made the call in a statement on Saturday, said that the data confirmed that the nation had entered recession.
About 4.5 million jobs will be lost in the African aviation sector and allied industries as a result of the pandemic, according to a report by the Air Transport Action Group of which IATA is a member.