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FG looks to partner private investors on power

ABUJA – The Minister of Power, Dr. Lanre Babalola has reiterated Federal Government’s commitment to partnering with private investors, with a view to providing definite and sustainable solutions to the nation’s power needs.

Dr. Babalola made the statement when a delegation from General Electric (GE), America, led by the President, GE for African Region, Mr. Lazarus Agbazo, paid him a courtesy visit in Abuja.

The meeting which was under the auspices of a Country-to-Company agreement signed in 2009, with the Minister of Power as co-chairman, aims at exploring, identifying, reviewing and promoting specific sector projects for the development of Nigeria ’s critical infrastructure as well as location of service and technical support for such structures.

The minister called on the company to improve on its business model by increasing its presence in the country, to ensure quicker response from all quarters in possible problem situations, adding that there was need for development of its entire infrastructure in the country, viz healthcare, water, transportation and energy.

He added that, given the importance of power to the socio-economic development of the country, efforts were being put in place for diversification to reduce the overdependence on gas for power generation.

To this effect, Babalola said the first wind-farm power project in Nigeria was last year contracted, awaiting commissioning soon and therefore called on the company to also look out for ways of possible flexibility in the power sector for more enhanced relationships and efficiency.

He further said that there was a visible problem in the power sector that could only be resolved through the provision of articulated solution, welcoming the inclusion of a visit to Olorunsogo power station in the delegation’s itinerary pointing out that firsthand assessment will go a long way in optimizing both interests.

Earlier, the President, GE for African Region, Lazarus Agbazo stated that the delegation’s visit, which comprises the most senior African-American Management of GE to selected African countries, also included two directors and executive members of the Board of the company, targeted at strengthening relationships.


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