The Federal Government announced that it had opened up the transmission arm of the power sector to private investors. The Transmission Company of Nigeria runs the power transmission arm which is being managed by Manitoba Hydro International, a Canadian firm with expertise in the management of power properties.
The, transmission arm was opened to investors under a public-private partnership model according to the Minister of State for Power, Mr. Mohammed Wakil. He disclosed this to top power sector stakeholders and investors in China, stated that investments in the Nigerian power sector were guaranteed of attracting adequate returns.
According to the minister he said the government of Nigeria is working out the involvement of private investors in the transmission sector under a public-private partnership. This has worked so well in other sectors of Nigeria’s economy.
The minister, who also visited the Huawei Company headquarters in Shenghen, said the potential for profitable investment in Nigeria was very high and he described the opportunities in the transmission and renewable energy sectors very attractive and sustainable.
“In the renewable sector, we are opened to both independent power producers and participants in public-private partnerships. Whichever area you prefer, you cannot regret investing your money in our dear country,” he said.
Wakil said, As much as foreign investors are welcome in Nigeria’s economy, they are also conscious of the need for investors and contractors to maintain high level of efficiency and standard comparable to great projects he saw all over China and urges China to maintain high standards in job delivery.