The federal government has declared once more that the investment opportunities in the power sector are still untapped.
The Permanent Secretary, Ministry of Power, Louis Edozien, who stated this at the 5th Nigeria International Power Expo and Conference (NIPEC), in Abuja, explained that although a lot of achievement had been made there was still much to be taken advantage of in the sector.
He spoke under the theme: “Private Sector Partnership in Achieving Sustainability of Power Supply in Nigeria.”
He said this administration had shown singular leadership and initiatives in ensuring that Nigeria leaps frogs in its quest to achieving its dream of becoming one of the best economies in the world by the year 2020.
Represented by Abayomi Adebisi, an officer in the ministry, he listed the achievements recorded and the defining future trend within the context of the new private led power sector, which includes the establishment and implementation of a renewable energy and energy conservation policy, embedded with coal to power.
He said the ongoing reform of the ministry was to equip it with the right competitiveness and capacity to handle policy issues as well as ensuring a conducive and enabling environment for investment in power.
He informed that government’s agenda in the future was the divestment by the Niger Delta Power Holding Company (NDPHC) assets in the National Integrated Power Projects (NIPP).
He also assured that government would assist the Transmission Company of Nigerian (TCN) in accessing long-term expansion funds, including the proposed Transmission Development Fund (TDF) and other international development funds from banks and multilateral agencies.
He noted that these funding matrixes would ensure a reliable transmission network system capable of conveniently wheeling up to 10,000mw of produced power in the short and medium term as well as providing a solid foundation for future growth of the sector.
He disclosed that the ministry would undertake pre-feasibility studies for remote and off-grid locations to incorporate their commercial frameworks for the establishment’s utilisation.
He said privatisation successes had shown that government alone cannot develop the power sector, but with shared responsibility with the private sector, more successes would be recorded.
Also speaking, deputy managing director, TCN, Abubakar Atiku, gave the assurance that the transmission company can deliver 6,000mw without overloading the system.
He said TCN since 2002, had embarked on ongoing projects aimed at expanding the wheeling capacity of the system, describing some of those projects as critical to ensuring grid stability.
Atiku however, bemoaned the paucity of funds in the 2015 appropriation, where only N1 billion was provided for TCN.
He said in order to bridge this funding gap, TCN was exploring external funding sources to complete some of its ongoing projects.
https://www.today.ng/news/national/43020/investment-opportunities-in-power-remain-untapped-fg

Stop talking and start tapping... Ahn ahn!

Which business mugu will put his money in this bleeped up economy? Mtchew

d opportunity na palmwine?

Oya tap am na,watin u dey wait?