Nigeria to privatise 10 power stations

power plant-jacob rommerskirchen sxc.huThe Nigerian government has announced that it intends to privatise 10 power stations as part of its effort to guarantee an effective and sustainable power supply in the country and is looking for investors

The power stations, with a combined capacity of 4,263MW, are located in Abia, Edo, Cross River, Imo, Bayelsa, Kogi, Delta, Ogun, Rivers and Ondo.

Speaking at an event in New York, James Abiodun Olutu, CEO of Niger Delta Power Holding Company (NDPHC), said, “Eighty per cent of shares in the 10 power plants are to be sold to foreign investors providing an opportunity for growth as demand outstrips current supply.”

Chinedu Nebo, minister of power, said, “Privatisation of all public generation and distribution companies is one of the pillars of the efforts of the federal government of Nigeria to reform the power sector.”

He added that this privatisation offered international investors an opportunity to be a part of a great economic revolution in Nigeria.

Gbenga Obadara, chairman, Nigeria’s Senate Committee on Privatisation, said, “We will provide security for investment in Nigeria and we are giving enough assurance of opportunities in the country.”

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