Nigeria Records $50bn Pipeline Investments In Power Sector

The privatisation of Nigeria’s power sector has unlocked the investment opportunities in the sector, with pipeline investments estimated at $50billion currently. The Minister of Industry, Trade and Investment, Mr Olusegun Aganga, who  spoke at the 5th Standard Bank West Africa Investors’ Forum in Lagos, said for the first time in the country’s 53 -year history, it has successfully privatised the electric power industry, “and is bringing in capital, technology and operational excellence into the sector.” “This event themed: “Nigeria: Time to Deliver,’ is a call to action, a statement of great expectations, an acknowledgement of the great potential across the length and breadth of our country. For many years, power has been the bane for businesses in Nigeria, and was left unaddressed. “This administration has however tackled power supply head on. For the first time in Nigeria’s 53 year history, Nigeria successfully privatised the electric power industry, and is bringing in capital, technology and operational excellence into the sector, ” he said, “As a result, 11 distribution companies and four generation companies have been privatised, for over $3 billion;

other generating plants in the National Integrated Power Projects Programme (NIPPP) will also be privatised soon. These electricity assets were physically handed over to private owners on November 1, 2013. “But privatisation is just the beginning in Nigeria’s power sector, as we now have a pipeline of approximately $50 billion of investments lined up to go into the Nigerian power industry in the next few years.” Aganga submitted  that, given the abundant investment opportunities in Nigeria, the country would remain one of the leading high growth and high returns countries globally. continued