As part of efforts to boost the country’s power generation capacity, the Federal Government on Friday signed a $30bn Memorandum of Understanding with HQMC Korea Company Limited.
The Minister of Power, Prof. Chinedu Nebo, said the MoU would give rise to a quantum leap in power generation by 10,000megawwats for the next 10 years.
According to Nebo, the Korean firm is set to inject $30bn in the power sector for the next 10 years, adding that this was no doubt a laudable and visionary effort which was in line with the transformation agenda of President Goodluck Jonathan.
The minister, in a statement from the Ministry of Power, said the addition of 1,000MW of solar power annually for the next 10 years would give the nation the required energy mix needed for sustainable development.
He said the development would also enhance the adequate spread of power across the country and Nigerians in the rural areas will benefit immensely from the proposed project.
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