The federal government plans to invest $11.7 billion through Public Private Partnership, PPP in its efforts to improve power generation and develop local gas potential.
Also, government plans to inject $3.7 billion to upgrade and expand the transmission grid so as to be able to wheel up to 20,000 megawats.
The move aims at fast-tracking the system to ensure availability of gas to plants by involving owners of the new plants and international oil companies to get involved in Gas infrastructure.
This was disclosed by Vice President, Arc Mohammed Namadi Sambo in his office at the state House Abuja when he received the management of the consortium of Genesis Electricity, GE led by Nigerian businessman prince Arthur Eze who paid him a courtesy visit.
Arc Namadi Sambo who used the occasion to appraise government’s efforts in
putting institutional reforms that would guarantee private sector participation in the power sector assured Genesis Electricity, GE Consortium, an electricity conglomerate, of ample opportunities in Nigeria’s power supply sector.
The vice president expressed appreciation for the confidence reposed in the
Nigerian economy by the consortium to invest massively in the energy sector
and revive the Port-Harcourt refinery.
He was appreciative of one of the members of the consortium, General Electric for partnering with Nigeria to develop her power sector.
He particularly noted their investments in plants that would support the sector in Calabar injecting $300 million into the financial sector and their plans to support training of Nigerians to strengthen the power sector
Other power related issues discussed were the efforts of government on the Zungeru and Mambila hydro power projects which were expected to generate 700mw and 3,050 mw respectively; and the pilot scheme of the wind power project which would provide about 10mw, solar power and coal to power where he disclosed that a Chinese company has came up with a proposal to generate 1,000mw in Enugu in an effort to ensure mixed generation capacity.
Speaking earlier, Chairman of GE, Prince Arthur Eze told the vice president
that they intended to invest the sum of $100 million in the Port-Harcourt
Refinery project in order to ensure triple redundancy so that the refinery
never goes down and promised to extend frontiers of their investments to
Kaduna and other refineries.
Present at the meeting were the Hassan Dawood, Chairman ENGRO, Darry Wilson, Vice President GE, Ali Ansari, CEO ENGRO, George Njenga, General Manager GE, Syed Muhammad Ali, CEO/POWERGEN amongst others.
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