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Nigeria’s Power Sector Viable, FG Tells US Investors

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IMAGE: Vice President Mohammed Namadi Sambo »

June 28, 2013


Vice President Mohammed Namadi Sambo, has acknowledged the privatisation of the Power Holding Company of Nigeria (PHCN) successor companies as one of the most open and transparent privatisation transaction processes in recent history.

 Represented by Governor Gabriel Suswan of Benue State, the VP made the observation at an investment forum in New York with prospective investors interested in the purchase of 80 per cent equity in the 10 National Integrated Power Project (NIPP) power plants.

Suswam while addressing the ongoing Niger Delta Power Holding Company’s Summit in New York yesterday, assured all potentials investors in the sector that the Nigerian power sector was viable, urging them to take advantage of the forum to really understand the efforts of the federal government to bridge the power gap for sustained economic growth in the country.

Suswam, a member of the board of the Niger Delta Power Holding Company, who said  that there had been issues of transparency in matters of international investment, promised that all the transactions with the power projects would be transparent.

“For the first time, the government and people decided that every stakeholder should be involved in the process of investment in the power sector. This is to build transparency and confidence. Nigeria is an investment friendly nation and that is why we are marketing the power projects at the doorsteps of all potentials investors,” he said.

 The Niger Delta Power Holding Company Limited (NDPHC) was incorporated in 2005 to serve as the legal vehicle to contract for, hold, manage and operate the assets developed and built under the National Integrated Power Project (NIPP) using international best practices.

The National Integrated Power Project (NIPP) was conceived in 2004 as a major fast-track initiative to add significant new generation capacity to Nigeria’s electricity supply system. The generation projects are accompanied by supporting transmission, distribution and gas transport infrastructure projects.

 At the ongoing summit are the governor of Gombe State, Alhaji Ibrahim Dankwambo, Minister of Power, Prof. Ositadinma Nebo, Senators Banabas Gemade, and Olugbenga Obadara, a representative of the Kogi State government, Mrs Aisha Audu-Emeje, and many others.


Article Credit: The Leadership

Updated 6 Years ago

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