Liquidity Is The Key To Fixing Nigeria’s Power Supply – Wale Edun

The Minister of Finance and Coordinating Minister for the Economy, Wale Edun has come out to say that liquidity is the major solution required by the troubled power sector.

He recently had his say while speaking to the press, and Nigerians have been reacting.

According to him, the agreements on Gas supply between NPDHC and ACUGAS Limited was inherited by former President Muhammadu Buhari in 2015 since it was signed in 2011 during President Goodluck Jonathan’s administration.

He added that the contract agreements currently being investigated by the Senate Committee on Power is not about restructuring, but providing the required liquidity.

His words, “Just as the Ministry of Justice was not aware of the contract agreement, the Ministry of Finance was also not part of it from the beginning but since government is a continuum, Ministry of Finance later came into it to facilitate the required liquidity.

The issues on the ground about contracts agreements being investigated by the Senate Committee on Power is not about restructuring but providing the required liquidity which the Ministry of Finance is doing through collaboration with the Nigerian Liquified Natural Gas.

Since NLNG pays Gas in Dollars, the Ministry is collaborating with it for a practical solution of bringing liquidity into the age-long contract agreement through Deed of Transfer.

Makeup Gas belongs to Calabar, Calabar belongs to NDPHC and NDPHC belongs to Federal and State governments with the Federal Government having 52.68%.”

WOW.