[size=14pt]Govt to invest $10b yearly in power sector[/size]

Monday, February 21, 2011



From Alemma-Ozioruva Aliu, Benin City

THE Federal Government at the weekend reaffirmed its commitment to providing stable power supply in the country, disclosing that it would henceforth invest $10 billion in the power sector every year.


Special Adviser to President Goodluck Jonathan on Energy, Prof. Bath Nnaji, stated this in Benin City, Edo State, during a Power Sector Roundtable organised by the Edo State government.

The Edo government also stated that it was ready to partner with the private sector to generate 25 per cent of the nation's power needs by 2020.

Nnaji, who commended the state government's initiative on power generation, said: "Comrade Adams Oshiomhole has recognised that reliable power supply will catalyse the businesses which will create jobs. You are not fighting this battle alone because the Federal Government is determined to provide reliable power supply across the nation with the investment of $10 billion per year in the power sector."

The presidential aide stressed that the public sector could "not embark on the project all alone, that is why it is important for private investors to be involved."

Nnaji said a Presidential Action Committee has been set up on the power project to identify problems and seek ways to resolve them, among others.

While noting that the Edo State government has taken the lead in the rehabilitation of the power sector, especially with the state's high deposit of natural gas that could be useful for power generation, Nnaji assured that the Federal Government would give investors the necessary guarantees required.

For his part, Oshiomhole said his administration was ready to partner with the private sector on power generation to enable it become the energy capital of the nation with the generation of 25 per cent of electricity by year 2020.

The governor said the long-term challenge of fighting and defeating poverty cannot be realised without reliable power supply.

He said Edo has the comparative advantage by virtue of his location and was willing to make available up to 1,000 hectares of land for prospective investors in the power sector.

His words: "We have the will to do what has to be done. It is time to focus more aggressively on power supply by working with the private sector so that we can become the energy capital of Nigeria. At least $2 billion dollars of investment can be attracted to this sector."

Meanwhile, the governor has explained why his administration embarked on massive infrastructural development projects in Edo.

Oshiomhole, who spoke at the weekend during the visit of President, Ancient Mystical Order Rosae Crucic (AMORC) Kenneth Idiodi and his executive to the Government House, Benin-City, said: "What we are doing in Benin City and in the 18 local council areas is that we recognise that our security of tenure is in the hands of the people. Without them, we cannot possibly be here."

"To service the people, we have to look at those things that would touch a majority of our people. We cannot share money as some people do. If you give appointment, how many can you appoint? It was clear to us that the only way to touch everybody is to invest in those critical areas of public infrastructure."

Whichever state delivers 24/7 power supply wins this game called Nigeria. Simple as that.

Adams Oshiomole seems to understand how important it is, and how if Edo State becomes the leader in this sector it becomes the (economic) leader of Nigeria.

Other Nigerian governors, political leaders and industrialists would do well to follow his example.

^true story.


problem is the laws in Nigeria have it so the Fed controls the grid so states can't really independently provide their own power.

the laws are relics of the military era and should be repelled.
Some states will naturally do better then others, id rather have 5 states out of the whole union with stable power and the rest in darkness then all states in equal darkness like now

the title should hav been: "Govt to misappropriate $10bn yearly through power sector"

Nothing good will ever come out of this PDP govt

Muza:

the title should hav been: "Govt to misappropriate $10bn yearly through power sector"

Nothing good will ever come out of this PDP govt

Man I'm a pessimist too, but I need something to pin hope on.

Lies Lies Lies -

More useless jingles - Nigerians like jingles till they die


vision 20 20 20

food for all 2000

Education for all 2010

5000 MW by dec 2010

and other bull shi t.

He is only stating d obvious, obj sunk $16bn in d power sector and we were able to generate darkness. Gej has emptied d ECA with d excuse dat dey are fixing d power sector yet we are still in darkness. For 12yrs, pdp has been fixing Nigeria's problem on d pages of newspapers and crowed rented rallies. Lets drop dis brainwashed idea of patrotism and start telling ourslves d truth. We had vision 2010 and all kinds of promises dat came with it bt d goverment tot that yr2010 was to far and will nvr come bt hey, dis 2011 and they keep telling u what they said 20yrs ago in todays reality and u expect every1 to wish d past away and start dancing to another fraudulent tune? No way, we all cant be zombies at d same time and dats not been pesimistic but been realistic base on past experiencies. Spending $10bn yrly is nt only fraudulent bt also its intellectually insulting. I tot phcn has been privertise, so y are pumping in dat huge amt in it? Y cant it function d way d telecom sector is dng? I guess an avenue for those in fg to keep milking us dry and im expected to be objective even when d blind have seen such a scenerio b4 and d deaf have heard dis tune b4 and u expect us all to shout hurray aight? And y cant d $16bn giving out for dis same power issues be refunded snc d job wasnt done? Abi na dash dem dash dem d money? So whats d dfrnc with dis1. Wake up, we ve heard b4 and d same circumstances are still in motion, there4 there is nothing to cheer abt.