Nebo, Minister of Power in London, Woos Investors

Chinedu Nebo, minister of Power, has said that the divestment of its 80 per cent stake in 10 National Integrated Power Projects (NIPP), when concluded, will overtake gains of the telecommunications sector.

He told audience at a road-show in London, that the present privatization process provides a huge opportunity for international investors who are seeking for viable investment opportunities that have the concomitant benefit of adding great value to the economic well-being of the people of the land.

“This golden opportunity promises to dwarf the great economic revolution occasioned by the telecoms industry in Nigeria,” he said.

Nebo assured the gathering of power investors of maximum support in ensuring that power business succeeds in the country.

The road show to kick-start the international investment drive for the divestment of government stakes in the generation assets of NDPHC started in Lagos, then to London for the Privatisation of 10 NIPP power plants and would subsequently move to Honk Kong and New York.

“The essence of the privatisation of the power plants is in conformity with President Goodluck Jonathan administration’s objective in ensuring effective and qualitative power supply in the country.

“This London Road show is to kick-start the international investment drive for the divestment of government stakes in the generation assets of NDPHC.

Privatization of all public generation and distribution companies is one of the pillars of the efforts of the Federal Government of Nigeria (FGN) to reform the power sector.

“The recent privatization of the Power Holding Company of Nigeria successor electricity distribution and generation companies is a testament to the commitment of the FGN to the reform process,” Nebo said.