As part of efforts to guarantee effective and sustainable power supply in the country, the Federal Government in far-away London assured investors of strict adherence to global best practice and due process in the bidding for 10 thermal power plants, being privatised by the Niger Delta Power Holding Company (NDPH).
According to a statement by the NDPHC, Minister of Power, Professor, Chinedu Nebo assured both local and foreign investors of maximum support to ensure that power business succeeds in the country.
The road show to kick-start international investment drive for the divestment of government stakes in the generation assets of the NDPHC which started in Lagos. It moved to London for the privatisation of 10 NIPP power plants, and is slated for Honk Kong and New York subsequently.
Nebo told the gathering in London that “the essence of the privatisation of the power plants is in conformity of the 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 the Niger Delta Power Holding Company (NDPHC)
“To provide you some background as to how we got here, two important tools that led to the reforms of the sector, the Nigerian Electric Power Policy (2001) and the subsequent Electric Power Sector Reform Act 2005 were products of about five years’ work by sterling experts in the field of electricity and utility reforms. The Act was a necessary foundation for charting a new course for a sector that had delivered far below the most liberal expectations of Nigerians.
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