Fed Govt Woos Iranians, Others into Power Sector

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The  Federal Government has made overture to Iranians and other foreign investors to tap into the numerous opportunities available in the Nigerian power sector.

The Minister of State for Power, Mustapha Baba Shehuri said  with the present administration of President Muhammadu Buhari’s commitment to improving the nation’s power sector through various innovations and initiatives, the country is now an investment friendly nation in Africa.

According to a statement, the  minister spoke when Iranian business delegation, led by the Vice-President of Dam and Water Works Construction Company (SABIR), Mohammad Ghaedi paid a working visit to the Ministry, in Abuja.

Shehuri said with a population of over 160 million and with the highest peak power generation of over 5000megawatts (Mw), Nigeria has the highest electricity demand in Africa and urged Iranians and other foreign investors to tap into the numerous opportunities available in the sector.

The minister further stated that the government is trying to meet the nation’s energy supply and access through investment in energy mix, such as gas, small and mini hydros, wind, solar and bio-mass energy.

 On investment opportunities in the power sector, he said the government has signed a Power Purchase Agreement (PPAs) with 14  different companies to produce 1,125Mw solar power in nine states and Abuja using  sun as source.

This he said is to demonstrate government’s commitment to the development of a robust energy mix, while also achieving its programme of incremental power supply.

The minister further said at the National Council on Power (NACOP), which took place in Kaduna, the Minister of Power, Works & Housing, Babatunde Fashola launched a document titled “Nigeria Power Sector Investment Opportunities and Guidelines” on investment opportunities in the Nigerian Electricity Industry.

Shehuri who presented the document to the Iranian investors urged them to go through it carefully because it would avail them with information on various investment opportunities available in the fledging power sector.

The minister also added that government will continue to provide enabling environment for power investors, stressing that it would provide security for their investments, while the sector will continue to be led by the private sector.

Earlier, Ghaedi said  Iranian investors are ready to invest in the power sector, as Iranian business men are already establishing partnerships and exploring the abundant opportunities in the sector.

Source

 

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