Nigeria’s federal government is claiming the country has achieved a new peak in capacity on 19 September by hitting 4242.7 MW.

The announcement comes after the signing of a memorandum of understanding with a consortium of Swiss and European investors for investing N240bn ($1.6bn) in the power, petroleum and housing sectors of the Nigerian economy, reported the Vanguard.

Nigeria also plans to sell a 70 per cent stake in 11 power distribution companies to new investors as part of privatizing its electricity sector, the Bureau of Public Enterprises announced on 20 September.

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