FG Strikes More Power Deals with Private Sector

In line with President Goodluck Jonathan's efforts to boost power supply through public-private partnership policy, the federal government has signed three more Memoranda of Understanding (MoU) with private sector investors.

power-nigeria.jpgMinister of Power Prof. Chinedu Nebo revealed this at the signing ceremony in Abuja for the construction of a gas power plant in Ajaokuta with 3D Hitech System Ltd. It also includes investments in Nigeria’s distribution and transmission sectors by SEPCOIII Electric Power Construction Corporation and CGC Nigeria Ltd.
According to the Minister, the partnership with the private institutions will go a long way in improving the power sector. He said, “the MoU were timely as Nigerians are hungry for power and would still demand for more, even if the output of these MoU were doubled, tripled or quadrupled.”

Prof. Nebo stated the capacity 3D Hitech has demonstrated in the test running of the 110MW plant will go a long way in enriching the national grid. Also, the minister said Nigeria’s transmission network was fast becoming a major bottleneck in the distribution of electricity and commended both the CGC Nig. Ltd and SEPCOIII for their interests in financing and provisioning of a greater transmission infrastructure.

In moving Nigeria forward, President Jonathan and his team have put in a lot of efforts, time and resources to make sure the power sector is repositioned for maximum output and productivity.