The Minister of Power, Joseph Tegbe, said the Federal Government has secured fresh Chinese investment commitments to address Nigeria’s power sector challenges.
A statement released on Thursday by Adeola Labzy, the spokesperson to the Minister of Power, said the feat was attained after Tegbe concluded a series of high-level engagements with China’s leading power engineering firms and financial institutions.
The investment commitments would accelerate the delivery of the country’s Presidential Power Initiative (PPI) projects.
“The engagements, held in Beijing as part of the ongoing Nigeria–China power sector mission, were designed around a single test: whether each partnership can be converted into a bankable project, a financed investment and completed infrastructure that Nigerians can measure in megawatts delivered, kilometres of lines energised and hours of reliable supply,” the statement reads.
The statement added that during his engagements with Chinese firms, the minister pressed for firm, accelerated completion schedules for all ongoing PPI projects and called for a shift from conventional engineering, procurement and construction, EPC contracts to full-scope partnerships in Nigeria.
DAILY POST reports that the majority of Nigerians have remained without electricity supply despite efforts to address the challenges.
Data from the Nigerian Electricity Regulatory Commission showed that the majority of Nigerians live without access to reliable electricity supply.
FG secures fresh Chinese investments to tackle Nigeria’s power crisis