The investors will get their turnover quicker, with Nigeria in turn enjoying the increase in power output instantly
The Federal Government has called on its Polish counterpart to bring in her wealth of technological expertise into the Nigeria’s power sector by setting up power plants that can deliver smaller megawatts of electricity in the country with a view to making same available for supply to the people within the shortest possible time.
This is in the nation’s quest for quicker and easier solution to the nation’s power challenge. Permanent Secretary, Ministry of Power, Ambassador Godknows Igali, who spoke at a meeting with a Polish delegation, led by its Minister of Economy, Andrzej Dycha, stated that such an investment would provide a win-win situation for both parties.
The reason, he said, is that the investors will get their turnover quicker, with Nigeria in turn enjoying the increase in power output instantly.
According to Igali, the entire gamut of the electricity value chain is suffering from long years of neglect and under-funding, which informed the determination of this administration to pursue privatisation with vigour.
He added that having seen the transformation in the banking and telecoms industries as a result of privatisation, it saw the need to inject private sector dynamism into the system.
He noted that since the exercise, which took place about 20 months ago, there has been a tremendous increase in the nation’s power sector output, which would have been noticed unquestionably, but for the incessant vandalism of gas pipelines.
He further added that the Ughelli Power Station, for example, has since then increased its generation capacity from a paltry 115 megawatts to 650 megawatts, and another target of 850 megawatts in some months ahead.
Igali assured the Polish delegation that the country has enough coal deposits to provide 5,000 megawatts of power from coal.
This is even as he told the Polish delegation that the government will provide all the necessary backing for the take-off of the deal.
He stressed that all permits and licences would be fast-tracked in order to ensure seamless realisation of projects.
The earlier, the leader of the delegation, Dycha stated that Poland is the fastest developing economy in Europe now, and has developed superior technology for coal and renewable energy, which it wants to collaborate with the Nigerian government on.
This is with a view to ensuring that in the years to come, the development in the area of energy will metamorphose into economic transformation for the nation, he added.