A private firm, Eta-Zuma Group West Africa Limited, has announced an investment outlay of $6bn to boost Nigeria’s electricity generation by 1,200 Megawatts.

The Chairman of the company, Dr. Innocent Ezuma, made the announcement during a press briefing in Abuja on Friday.

Ezuma, who was represented by Executive Director, Corporate Services, Ambassador Joseph Ayalogu, said the 1,200MW would be generated from coal, which the company is already mining in Kogi State.

He also stated that the company had acquired another licence from the Nigerian Electricity Regulatory Agency to generate additional 400MW from gas.

Ezuma said 90 per cent of the work on the development stages had been completed and expressed confidence that the remaining agreements would be completed before the year runs out to enable the actual construction of the coal power plant to begin.

According to him, the first phase of the construction for the 400MW plant will take 30 months, adding that the subsequent phases would take lesser time to complete.

The Eta-Zuma boss also announced a N500m Community Development Fund spread across five years for the benefit of the communities that host the company’s coal mine in Kogi State.

Ezuma, whose firm acquired the Jos Steel Complex from the Federal Government in 2006, said the steel complex had not been able to go into production because of lack of guaranteed electricity supply.

To resolve the situation, he added that the company resolved to build a captive power plant that would ensure that the steel complex would get the guaranteed 100MW of electricity it required to be in production.

He said, “We have opened an active mine in Okobo, Ankpa Local Government Area of Kogi State and currently mine 50,000 metric tonnes of coal per month. We have the capacity to double that as demand increases.

“We are the leading suppliers of premium quality coal to Nigeria’s industrial end users, including Dangote and Zuma Energy coal-to-power project under development, which will supply 1,200MW of electricity to the grid.”

He added, “The Eta-Zuma Group and its sister-client companies have invested over $300m so far in various projects even though they are still at their development stages. The 1,200MW coal-to-power will require about $6bn to actualise.”

http://www.energywatchng.com/firm-invest-6bn-electricity-generation/

Let's hope itz true

another billion dollars to loot.

K

naysayers wont like this

It might be just me but whenever I hear billions of naira and dollar in the same sentence with Nigeria I always think of one word

Loot

Lincoln275:
another billion dollars to loot.

naysayer,this is an investment

its only on media we hear good things in Nigeria but we don't see them

No b small thing o

Time wasters republic of Nigeria

same old story all day err day,this is shitty AF,we can't continue this way,we are being scammed in our father'sland, who's gonna help..?

It a good development.....our ear hears best things in live our eyes? ....well you no the rest

Its about Time like seriously lets see how long it will take

Status: confused

Possible reason: Coals are mined in the east, gases explored South South, yet the North enjoys power supply more than other zones.



Any else?: yes please.

Spill it: By estimate, $1b generates 1000MW. How come $6b was raised to generate 1200MW of same electricity?


Besides, I hope this is not Zuma, our brotherly neighbour from down south.

Na so so To build we dey see. Ok o

Ok

u na know dey tire to giv person hope

Zuma my man


I pray this finally kicks off.

K

$6 billion no be small money o.

May God help them to achieve this laudable project.

When will they talk about generating gigabytes of electricity

Let us know when you have started already..
I only believe what I see now

Eta Zuma $6bn project. Lips sealed

We have been hearing TO
Wake me up when they get to HAVE

Let us know when it's done.

When does it start yielding fruit?

Lincoln275:
another billion dollars to loot.

This is not government project, is a private own!!! cant not be looted as u think.