President Muhammadu Buhari has inaugurated the Special Purpose Vehicle (SPV) for Presidential Power Initiative to assist the government in improving the delivery of power in the country.
Members of the committee inaugurated by Mr Buhari include the Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami (SAN); the Minister of Finance, Budget, and National Planning, Mrs Zainab Ahmed; Minister of Power, Mr Saleh Mamman; and Minister of Works and Housing, Mr Babatunde Fashola.
A statement by Mr Umar Gwandu, the spokesperson of the Minister of Justice/Attorney General, said the committee was constituted on Thursday by the President in Abuja.
He added that other members of the team include the Director-General of Nigeria’s Bureau of Public Enterprise (BPE), Mr Alex Okoh, and the President Nigerian Society of Engineers, Mr Babagana Mohammed.
The statement added that, “Inaugurating the committee on Thursday, President Muhamamdu Buhari, who described power sector as one of the most critical components of sustainable development, expressed commitment to improving the delivery of power in the country as his enduring and defining legacy.
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“He said following the Federal Executive Council approval, the coast is now clear and the SPV has the responsibility of executing the Presidential Power Initiative (PPI), providing project management for the implementation of PPI and serve as the key manager to ensure cohesion and seamless execution.”
An SPV is a separate legal entity created by a body, in this case, the government. The SPV is a distinct company with its status. Usually, it is created for a specific objective which will help to address the power sector in the country; one of the nine priorities of the Buhari-led administration.
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