Nigeria to invest 10 million USD per year to increase generation to 40,000 MW
24 February 2011
Nigeria is to invest ten million dollars per year in the energy sector in order to attain the government's goal of a generating capacity of 40,000 megawatts by 2020.
The announcement was made by Bartholomew Nnaji, special advisor to the president, to the daily newspaper This Day in its edition of Monday February 21.
The country wants to ensure it is self-sufficient in electricity and avoid shortages.
The State is relying on the private sector to attain this goal: "the government has realized that the public sector cannot carry such a burden on its own, hence the consultation with the private companies in the context of an action committee to consider and find solutions together", explained Mr. Nnaji.
Elsewhere, an agreement relating to electrical interconnection was signed on February 18 between Cameroon and Nigeria. It defines the institutional framework relating to the realization of an electrical interconnection between the two countries.
Each infrastructure project which results from this agreement will be financed jointly by the two countries, reports the daily, Le Jour.