A Review of the Nigerian Energy Industry

US firms to invest $1.5bn in Nigeria’s power sector

15 February 2012, Sweetcrude, LAGOS – If all goes well, the United States would be investing as much as N1.5 billion in Nigeria’s power generation, transmission and distribution, according to Wanda Felton, vice-chairperson of the United States Export Import Bank (USEXIMB).

Felton, who is part of the current US Energy Trade Mission to Nigeria, told journalists in Lagos that the investment would come through US private sector firms willing to exploit the opportunities in the Nigerian power sector.

“We are committed to staking as much as $1.5billion in financing to support investment in the Nigerian power sector,” she said, adding that the amount would only be the first part of other investment in power sector in Nigeria.

“We want to attract US companies into the Nigerian Power Sector. We do not want them to miss out. The US missed out of the opportunities in the Nigerian Telecommunications Sector some years ago and we do not want to miss out of the Power Sector opportunities” another leader of the delegation and deputy assistant secretary for African Affairs, Williams Fitzgerald, said.

According to him, eight US companies are involved in the trade mission, which has earlier taken them to Mozambique and Kenya, would be heading to Ghana from Nigeria.

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  • ROBERTO

    WEL,IT WIL B A TIN OF JOY IF OUR LEADERS CAN ALLOW D MONEY TO FUNCTION, B/C THERE AR N NED OF MONEY TO FIL THEIR POCKET

  • bernard

    dis is wot our leaders shld b doing, attracting investment into key sectors like dis.