Strong indications have emerged that investors from the United States may inject $20bn into Nigeria’s power sector in the next two years.


The development was confirmed by the Chief Executive Officer, Kaleidoscope International Business Forum, Mrs. Linda Middleton, in Abuja.


The decision is coming barely five days after the Chairman, Presidential Task Force on Power, Prof. Barth Nnaji, had raised the alarm over the zero allocation to the gas-to-power projects in the 2011 budget.


Nnaji had said that the development could affect the Federal Government’s ambition to generate adequate electricity for Nigerians.


The nation’s power generation capacity dropped to 3,313.8 megawatts last month, indicating a reduction of 487MW of electricity from the 3800MW said to have been generated by the end of January.


However, Middleton expressed optimism that the country’s power sector problem would soon be a thing of the past, adding that the decision of the Federal Government to allow the private sector to invest massively in the power sector had made the US investors to be interested in the sector.


To this end, she said that a two-day meeting had been scheduled for March 17 and 18 in Washington, United States.


The meeting, which is expected to be chaired by a former US Ambassador to Nigeria, Mr. Howard Jeter, would also have the Minister of Foreign Affairs, Mr. Odein Ajumogobia (SAN), in attendance.


Some of the companies that have indicated interest in the power sector who are also expected at the meeting are General Electric, Greengate, Attels and Partners Limited.

http://www.punchng.com/Articl.aspx?theartic=Art2011030657523

am sure you know that comes with a prize, the more they give us money the more we are never going to maximize our potentials rather remain an oil selling and importation country

Nigeria is a Capitalist dream country.

Low taxes

Growing population for CHEAP Labor

Lax environmental/work laws

bashr4:

am sure you know that comes with a prize, the more they give us money the more we are never going to maximize our potentials rather remain an oil selling and importation country

I think the statement above is probably evidence that more education is needed on your part.

bashr4:

am sure you know that comes with a prize, the more they give us money the more we are never going to maximize our potentials rather remain an oil selling and importation country

sure you are right but if electricity is not solved in nigeria there is no way forward i tell you

companies need it

even electrical made products made in nigeria like ugo plc needs this electricity for his company to grow out of nigeria

MaziUche0:

Nigeria is a Capitalist dream country.

Low taxes

Growing population for CHEAP Labor
Lax environmental/work laws

Oh WOW . . . like this has not been true for well over 30 years now . . .

MaziUche0:

Nigeria is a Capitalist dream country.

Low taxes

Growing population for CHEAP Labor

Lax environmental/work laws

mazi uche  alu who made you mazi

Kobojunkie:

Oh WOW . . . like this has not been true for well over 30 years now . . .

Well it has been true. But we had to wait our turn.

China and India had to grow more wealthy before it was ready for us to take the mantle.

How did they arrive at 20 billion dollars when a meeting hasn't been held yet

Kobojunkie:

I think the statement above is probably evidence that more education is needed on your part.

u must be talkin to yourself cus billions of dollars have been injected into the same sector since 1999 ,who told you money is our problem

Alj Uche:

sure you are right but if electricity is not solved in nigeria there is no way forward i tell you

companies need it

even electrical made products made in nigeria like ugo plc needs this electricity for his company to grow out of nigeria

am not talkin of having electricity am talking about their generosity , money have never been our problem , i wonder what they are going to get in return.

bashr4:

u must be talkin to yourself cus billions of dollars have been injected into the same sector since 1999 ,who told you money is our problem

Yet another response from you that holds more evidence that extra schooling might be needed on your part. What does the word [b]INVESTMENT [/b]mean?

bashr4:

am not talkin of having electricity am talking about their generosity , money have never been our problem , i wonder what they are going to get in return.

oh i see, there money will probably be gotten from reserves or something

even worst it would not go to the sector but go people's pocket ,.,.very sad

This is good news. $20 billion is a lotta money.

This is private investment under a deregulated environment we're talking about, so it's a lot different from what occurred in the past.