n CPEEL Monograph Series - Recommendations and conclusions
|Article Title||Recommendations and conclusions|
|© Publisher:||Centre for Petroleum, Energy Economics & Law (CPEEL)|
|Journal||CPEEL Monograph Series|
|Author||Akin Iwayemi, Chuks Diji, Bola Awotide, Adeola Adenikinju and Peter Obute|
|Publication Date||Jan 2014|
|Pages||115 - 129|
The projected amount of investment to meet system expansion to achieve 40,000MW and, implicitly, universal rural electricity access, the first objective of SE4ALL, is estimated at about US$262 billion. This amount is enormous given industry experience, yet it is achievable. Much would depend on the political will to achieve results. It also requires having in place the right institutional framework, policy consistency, appropriate incentive structure and security of investment, as well as input. All these would guarantee the required flow of investment. The successful privatization of the telecommunication industry, which brought in multi-billion dollars of investment in less than a decade, provides support for this position. Ending the monopoly of NITEL and opening up of the telecommunications sector to a vibrant private sector-led dominance with one of the fastest system growth rates in the world has been due to the combination of right institutional framework, policy consistency and appropriate incentive structure.
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