FG Signs 3 MOUs With Chinese Coys

 – Emphasis on Boosting Transmission Capacity – Nebo

 Determined to correct past weak capacity of Transmission in the Nigerian Electricity value chain, the Minister of Power, Professor Chinedu Nebo has tasked the Chinese Companies to fill in the gap so as to boost the nation’s capacity to wheel generated power to end users.

 The Minister identified the critical role of Transmission, saying that it is needless if generated power cannot be used, hence it is important to strengthen the engine that would ensure that the chain is not broken.

While calling for more foreign investment, the Minister identified the Chinese as special people that have capacity to identify opportunities, “little wonder that China is doing so well with us in the sector”, he added.

According to him, we will continue to support and defend your interests and investments here, he further requested the Chinese to do even more in terms of investing in the sector, adding that in the area of renewable, a lot of opportunities still exist.

Prof. Nebo counseled the Chinese to also build synergy with Distribution and Generation Companies as they could build mutual relationship in the area of embedded or generated power within a locality and get such distributed through the Disco in the area.

 He commended Mr. President for the doggedness and determination to push Electricity Agenda to this level through its privatization programme, and enthused that without that political will, the whole process could have derailed.

 The Minister said that even the opposition have expressed this position at different fora, as the Nigerian power privatization remained irreversible, the gap is huge and Government is deeply committed in making sure we get it right in power, “the Independent Power Producers should be able to produce, while on our side, we should ensure that power gets to the people”

 The statistics of power in Nigeria is abysmally low, “Nigeria is producing only 2.5% of what power is being produced in South Africa, those who are wise are taking position and falling over each other to partake in the sector”, he commended the level of confidence the Chinese have in the sector, saying that encouraging funding has come from EXIM Bank into the sector, especially since the high-powered delegation, led by Mr. President, visited China in 2013.

 Speaking after the signing ceremony, Mariam Olusola Akomode, the Chairperson of Cartlark International, assured the Minister that her Company will tag along with Mr. President’s Transformation Agenda, that is underscore by the level playing ground provided for Public Private Partnership (PPP) initiative.  For a country like Nigeria that is in a hurry to develop its critical infrastructure, the PPP model is a viable option, adding that her Company will explore PPP to finance its Transmission projects as planned.

 The Representatives of SinoHydro Nigeria, Gan Yongzhi said his Company is ready to promote the project in line with the agreement signed, assuring that the project will be realized on record time.