2nd September, 2014
The Minister of State for Power, Alhaji Mohammed Wakil, has said that the transmission sub-sector of Nigeria’s power sector was opened to investment under Public-Private-Partnership model.
This was contained in a statement by Olawale Rasheed, Special Assistant on Media to the minister on Monday in Abuja.
The statement said that Wakil stated this at a meeting with top power sector stakeholders and investors in China.
The minister, according to the statement, assured investors in the Nigerian power sector of adequate returns and safety of their investments.
“I urge you all to participate in the planned transmission project expansion in Nigeria. The government of Nigeria is working out participation of private sector in the transmission sub-sector under a public-private-partnership.
“This has worked so well in other sectors of our economy”, the statement quoted him as saying.
Wakil, who was also at Huawei Company Headquarters in Shenghen, said that the potential for profitable investment in Nigeria was very high.
He described the opportunities in the transmission and renewable energy sector as “very attractive and sustainable”.
“In the renewable sector, we are opened to both Independent Power Producers and participants in the private-public-partnership.
“Whichever area you prefer, you cannot regret investing your money in our dear country,” he said.
He urged the Chinese companies to retain high standard of job delivery comparable to the projects they executed in their home country, stressing that investors in Nigeria needed to maintain high level of efficiency and standard.
“Specifically, after seeing the great wonders of the seven Gorges Dams, I call on the Chinese firm handling the Mambilla hydro projects to deliver a project as standard as the Gorges dam.
“We want high quality job to be done in this very important hydro project. Mambilla is key to us because it is a project too long on the drawing board.
“Our President is breaking the jinx on both Mabilla and Zungeru, hence the need for the job to be well done. For the North East, Mambilla holds great promise for enhanced power supply and job creation,” Wakil stated.
Receiving the minister, a representative of the management of TBEA, one of the firms visited, Mr Jun Ye, said that his company was ready to collaborate with Nigeria for the successful conclusion of its power sector reform.
Ye said that the reform as progressing successfully and restated that his firm is eager to be part of Nigerian success story.