FG gives up - "We cant Achieve 6000MW Power by December 2014" maybe 5000MW

The Federal Government has reneged on earlier promises of generating 6,000 Mega Watts (MW) of electricity by December 2014, announcing Saturday, a new target of 5,000 MW by year-end.

The Central Bank of Nigeria (CBN) is also set to clear up the N25 billion gas related debts of the power sector in order to boost stakeholders’ confidence in the industry.

The Minister of Petroleum Resources, Diezani Alison-Madueke, made these disclosures at the headquarters of the Nigerian National Petroleum Corporation (NNPC) during a press conference on gas that was jointly held by the petroleum ministry, ministry of power, CBN and the Nigerian Electricity Regulatory Commission (NERC).

Alison-Madueke said about 750 million cubic feet per day of gas was currently supplied to the power sector, resulting in an aggregate generating capacity of about 4,000MW.

“It is expected that barring unforeseen developments, our interventions will add at least 370 million cubic feet per day of gas and assure a generation capacity of at least 5,000MW within four to five months,” she said.

Alison-Madueke further stressed that the various outages often reduced the actual availability of power and noted that if there had been sufficient gas supply, current generation capacity would have exceeded the 6,000MW mark.

http://businessdayonline.com/2014/08/6000mw-electricity-not-feasible-by-december/#.U94KOrEzM5Y