FG Attracts Investors to the Power Sector

To facilitate the financing of power infrastructural development in Nigeria, the President Goodluck Jonathan-led administration is inviting both prospective investors and financiers to an international conference on February 10, 2014 at the state house Banquet hall, Abuja.
The event is expected to facilitate interaction between new investors and local and international financial institutions to explore available opportunities in meeting the capital expenditure needs of the power sector.

Godknows Igali, chairman, organising committee of the conference, disclosed that the initiative would support the creation of a sound economic expansion framework that would enhance performance across the power sector value chain.
“We need the platform to provide the enabling environment for potential investors in the power sector to refine their entry strategy into the sector. The transformation agenda of this administration anchors on Nigeria’s vision 20:2020, which is focused on building institutions to drive robust roadmaps of reform in key sectors of the economy, with the power sector reform being a pivot,” he added.

Following the physical handover of the successor companies to the private sector investors in November 2013, Igali noted that the burden of process optimisation and capacity expansion has been shifted from the federal government to the new owners. He said the President Jonathan led administration realised that power supply still remains a social responsibility as it is a paramount infrastructure needed for nation building and economic development and that is the reason it is introducing the conference to facilitate the funding of the power sector infrastructure development of the country to achieve required modernisation.

Igali, who urged prospective investors and financiers to participate in the conference, adds, “The direct beneficiaries of these fund influx are the transmission companies, distribution companies and generation companies among other sector service providers,” he concluded.