Agboola Samson, Deputy Director for Investment & Sector Development at the federal ministry of power, said “Privatization is key… government has discovered that they cannot do the job alone.”
Nigeria has selected 15 companies including E.ON German utility to invest in the exploration and generation of its natural gas reserves, which would offer adequate supplies to its distressed power sector.
Samson said “We will give them licenses to operate on their own; only tariffs will be agreed with us. We are generating only 3,000 MW right now, but by the end of the year we expect to increase that to 6,000 MW.
He added “We have invited investors to invest in solar, hydro and coal power generation some companies are already working on the ground and others have expressed their interest to come in.”
