Minister of Power, Prof. Chinedu Nebo, has again re-assured Nigerians and potential investors in the power sector that the current process of privatiSation will produce tremendous benefits.
Speaking in Cape Town at an event organised by Nigerians living in South Africa to host President Goodluck Jonathan on Monday, Professor Nebo explained that private ownership of power concerns would thrive on the economic principle of making profit from producing and distributing energy to all corners of the country.
This liberalisation of the sector, he said, would change the socio-economic fortunes of Nigeria and Nigerians, and push down the cost of telephony when telecommunication firms stop spending money on running generating sets.
Professor Nebo commended the courage and political will exhibited by President Jonathan in driving the privatisation programme and executing hither-to abandoned electricity projects.
The Minister noted that among other things, rural electrification has become a priority of the Jonathan administration, beginning with the full re-activation of the Rural Electrification Agency.
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