A Review of the Nigerian Energy Industry

Nigeria spends $8.26bn on power sector, inaugurates 750Mw Olorunsogo II power plant

President Goodluck Jonathan (2nd R) cutting the tape to inaugurate the 750Mw Olorunsogo II Power Station in Papalanto, Ogun State on Friday.
President Goodluck Jonathan (2nd R) cutting the tape to inaugurate the 750Mw Olorunsogo II Power Station in Papalanto, Ogun State on Friday.

*Privitisation to be completed in 2017 – Jonathan

Oscarline Onwuemenyi,
with agency reports


21 February 2015, Sweetcrude, Abuja –
President Goodluck Jonathan on Friday said the Federal Government has invested about $8.26 billion in the power sector through the National Integrated Power Project (NIPP)‎.

Jonathan, who ‎made this known in Abeokuta at the inauguration of the 750 megawatts Olorunsogo II Power Station, in Olorunsogo, Ogun State, said he expects a complete privatization of the power sector to take place by 2017.

Meanwhile, the President has explained that a total of $650 million of the amount was committed to the Olorunsogo power plant.

Jonathan further disclosed that there were 10 of such power projects ongoing across the nation, and recalled that he inaugurated two in Kogi and Ondo states in 2014.

He explained that the Egbin power station would also be inaugurated on Saturday.

The president expressed happiness that he has continued to deliver on his campaign promises including the reformation of the power sector.

According to the president, his administration would not relent in its determination to drive away darkness from Nigeria.

“I am happy that I have consistently delivered on my campaign promises to transform Nigeria and my administration would leave no stone unturned to achieve its goals,” he said.

The president pledged that the interface between the government and the private sector on the privatisation of the power sector would be completely sealed by 2017, if voted into power.

He said that the power plants in Kogi and Ondo states had already been privatised, while that of the Olorunsogo is in the process of being privatised.

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