Nigeria to host power investment summit

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(Last Updated On: 2016-09-23)

Nahimat Adekoga

About 300 power experts from America, Europe, Asia and Nigeria will meet in Abuja in October the Powering Africa: Nigeria Investment Summit to brainstorm on the future of power development in Nigeria.

The organiser of the summit, Powering Africa Nigeria, will host the meeting with the support of the Federal Ministry of Power, Works and Housing.

The Nigeria Investment Summit, which has been endorsed by the Nigerian Electricity Regulatory Commission, the Electricity Commission of Nigeria and the Transmission Company of Nigeria, will attract leading power investors to meet with Nigeria’s government to discuss and address the power situation.

Powering Africa Nigeria appreciated the scale of the opportunities in Nigeria and realised that it was now time to understand the priorities and pace of development in the country.

The organiser said that Nigeria’s electricity sector has been transformed in the past 12 months with the arrival of Mr Babatunde Fashola, Minister for Power, Works and Housing.

“The sector has been transformed by Mr Fashola who has set out clearly his intention to break down the barriers to investment in the country’s energy sector.’’

The Minister embarked on strategies to get the distribution companies working, following President Buhari’s lead to tackle bottlenecks and inefficiencies in the power sector.

One of the strategies is to provide support and regular interactions with the privately held companies that have worked tirelessly to build the electricity backbone of Nigeria.

Nigeria is currently the second largest economy in Africa and is poised to become the largest market in Africa for Independent Power Producers projects.

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