FG to unlock power sector potential through PPP

Minister of Power, Prof. Chinedu Nebo
| credits: File copy

The Federal Government has once again emphasised that Public Private Partnership is a veritable model that can fast-track its power sector reforms thereby unlocking the sector’s potential.

Deputy Director, Investments and Sector Development, Ministry of Power, Mr. Kehinde Oshinowo, was quoted as saying this in a statement made available to our correspondent on Wednesday.

The statement also announced that the Nigeria International Power Expo and Conference, which will be organised by BKG Exhibitions, will take place in October.

Oshinowo said the Federal Government expected more investors to get involved and help to deliver on its power sector reforms.

As the power sector moves into a fully privatised market, Oshinowo said more private sector players were expected to form a major part of government strategy to stimulate the growth and development of the sector.

He listed the power sector challenges as neglect by successive regimes, paucity of funds and lack of investments and expertise.

He said, “A cardinal project in the transformation agenda of Mr. President is fast-tracking the development of the power/electricity sector of the economy, which is identified as the master-key to leapfrogging Nigeria’s socio-economic development and attaining the status of becoming one of the 20 most developed economies in the world by the year 2020.”

He, however, said since the implementation of the power sector roadmap in 2010, the sector had undergone major positive strides, culminating in the unbundling of the PHCN successor companies and eventual privatisation of the sector.

On the conference, Oshinowo said the Federal Ministry of Power was highly active and supportive of the debut of the Nigeria International Power Expo and Conference about four years ago because it saw it as a bold initiative.

This, he said, explained why the ministry was present at the inaugural stakeholders’ forum held in Lagos.

“Since then, in full appreciation of its role in the sector, the ministry has never relented in supporting the event. It is quickly growing to become the major private sector event that identifies and supports the Federal Government’s quest and drive to open the sector for increased participation by the private sector,” he said

According to him, the ministry intends to leverage the current edition of the expo to “showcase to Nigerians all that had been done; all that are being done and all that are proposed to be done to develop the sector and power homes, offices and factories.”

Managing Director, BKG Exhibitions Limited, Mr. Ifeanyichukwu Agwu, said over 150 companies would gather in Abuja for the power sector expo.

According to him, all the PHCN successor companies, key agencies and operators in the power sector in the country, state governments as well as private and public companies from Nigeria and abroad are expected to participate in the expo.