Efforts by the federal government to improve electricity in the country received a major boost as the government has gone into partnership with Chinese companies to help increase and improve the electricity situation in the country.
Minister of Power, Professor Chinedu Nebo while calling for more foreign investment identified the Chinese as special people that had capacity to identify opportunities, “little wonder that China is doing so well with us in the sector.”
He stated this during the signing of memorandum of understanding (MoU) with the Chinese companies, identified the critical role of transmission, saying that it was needless if generated power could not be used.
According to him, “we will continue to support and defend your interests and investments here,” but he requested the Chinese to do even more in terms of investing in the sector, adding that in the area of renewable energy, a lot of opportunities still existed.
Professor Nebo counselled the Chinese to 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 distribution companies in the area.
Speaking after the signing ceremony, Mariam Olusola Akomode, chairperson of Cartlark International, assured the minister that the company would move along with the transformation agenda of the administration.
“For a country like Nigeria that is in a hurry to develop its critical infrastructure, the private-public partnership (PPP) model is a viable option,” adding that its company would explore PPP to finance its transmission projects as planned.
Representatives of SinoHydro Nigeria, Gan Yongzhi, said his company was ready to promote the project in line with the agreement signed, assuring that the project would be realised on record time.