FG to partner 150 foreign investors to develop power sector

Abubakar Aliyu, minister of power, says the federal government will partner over 150 foreign direct investors (FDIs) to attract investments for the development of the power sector.

According to a statement issued by Ofem Uket, media aide of the minister of state for power, these investments will feature under the ongoing power sector reforms of the present administration.

At a ‘strategic power sector dialogue’ between the Arabian Gulf Chamber of Commerce and Industry and federal government representatives in Abuja on Thursday, Aliyu said the Nigeria electricity supply industry is small, but has the potential of growing with the involvement of genuine investors.

Goddy Jedy Agba, the minister of state for power, told the delegation that the present administration is committed to ensuring that the power sector reforms translates into adequate supply of electricity to Nigerian homes.

He said the major areas needing development are generation, transmission, distribution, clean and renewable energy.

Muhammad Ahmadu, the delegation leader of the Arabian Gulf chamber of commerce, said his organisation seeks the participation of the ministry of power at the 2021 Dubai Expo taking place from October to march 2022.

This is because, according to him, the investment agreements will be done through the Dubai Expo, where MoUs between the investors and the Nigerian delegation will be signed.