Power sector will boom, says Minister

Minister-of State for Power, Zainab-Kuchi18 July 2013, Abuja – Minister of State for Power, Hajiya Zainab Ibrahim Kuchi has urged prospective investors to take advantage of the impending boom in the nation’s power sector.

Hajiya Kuchi, who spoke while receiving a delegation from Bharat Heavy Electricals Limited, led by the Secretary to the Government of India’s Department of Heavy Industry, Dr. Sunatu Behuria, said there are opportunities in all the three chains of electricity in Nigeria, such as the renewable like small hydros, solar, wind, waste to fuel and coal to power.

In a statement, the Deputy Director, Press, Timothy Oyedeji quoted the Minister as assuring the would-be investors of bumper returns on their investment, saying Nigeria is known for high returns on investment. The electricity market will not be an exemption, as what Nigerians want is adequate and uninterrupted power supply, she added. She urged the group to cash-in on the conducive environment created by the government and invest as Independent Power Producers.

She said there are vast opportunities available for the production of small megawatts of electricity in short term outside the national grid system as she reiterated the commitment of President Goodluck Jonathan to the realisation of the lofty ideas contained in the power sector Road Map.

Regarding the proposal on capacity building, Hajiya Kuchi, said that government would be interested in signing a long term agreement with the company, adding that such a move would be mutually beneficial to the parties.

Earlier Dr. Behuria, said the Indian firm is ready to invest in the Nigerian Power Sector, especially in the areas of hydro power (small and medium) and other renewables, saying the company has a record of being the highest producer of electricity in India with business interests in Asia and Africa.

– John Ofikhenua, The Nation.

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