Fashola urges foreign investment in power sector

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Minister of Power, Works and Housing, Mr. Babatunde Fashola, while at the EU/Nigeria business forum has urged local and international investors to take advantage of the various investment opportunities in the power sector to boost their fortunes and improve electricity supply in the country, .
He listed investable areas in the sector to include the distribution companies, gas supply, generation companies, Transmission Company of Nigeria (TCN), rural electrification, promotion of coal and solar power and funding graduates of the National Power Training Institute to be able to produce cables and other power equipment. “Public Private Partnership (PPP) is key in financing projects and providing infrastructure. We in governance recognise that and serious investors know we are ready to create a frame-work for sustainable development,” he said.
Contributors at the panel discussion stressed the need to harness grants for renewable power generation, and called for increased commitments in power generation and distribution through partnership. The experts also advanced the need for the creation of a credit guarantor system for projects in the power sector.

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