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Did FG Pay $23m To Manitoba Hydro Just For Consulting Service??? by mayo47(m): 3:06pm On Jan 08, 2014 |
Its Sad that the FG don't believe in NIgerians ability and prefer awarding contracts to foreigners who are in no way prepared to invest in this country, thereby transferring income to them. Below is what i found Source: http://www.winnipegsun.com/2013/05/11/nigeria-deal-a-boost-for-manitoba-hydro-international While Manitoba Hydro pushes to expand its infrastructure in the province amid a cacophony of debate, its subsidiary is quietly extending its reach into the southern hemisphere. Manitoba Hydro International, which advises clients worldwide, recently inked a contract to manage the Transmission Company of Nigeria, that country’s state-owned power utility. The utility for Africa’s most populous nation has been in disarray and the $23-million deal gives MHI the go-ahead to oversee the company, restructure it and prepare it for eventual privatization. Hydro spokesman Glenn Schneider said deals like this are a revenue-generator for MHI and a chance to put a foot down in a potentially lucrative African market. “We never go over there and invest in actual networks, it’s really just a consulting service,” he said. “There’s very little risk in these things ... It’s really taking advantage of the expertise that we have in house to make a little extra money on the international market.” Schneider said the revenues are minor, but beneficial. “It’s a small contribution to the positive revenues that we get. That money flows to Manitoba Hydro itself, which helps in a small way to keep everybody’s rates down.” |
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