Federal government has opened up 10 power plants under the National Integrated Power Project (NIPP) for international investment in London. Prof. Chinedu Nebo, the Minister of Power, who presented the plants to investors during the first leg of the NIPP road show
in London, said the 10 plants had a combined cost of over $3.8 billion. He said that the projects include seven medium sized gas power stations, 39 gas turbine generators with a total capacity of 4,775 mega watts, and five lots of gas infrastructure upgrade.
Others are 43 lots of Critical Transmission Grid upgrade, and 71 lots of Critical Distribution Network capacity upgrade. While stressing the potentialities which abound in the power sector, the Minister said that NIPP plants presently contribute only 1,500 mega watts of electricity to the national grid.
“However, the Niger Delta Power Holding Company (NDPHC) has assured all stakeholders that the entire 4775 mega watts would be ready by the end of 2013. This will bring the total generation capacity to 10,000 mega watts, this is still a far cry from our demands and projections, but a major milestone in our drive towards electricity sustainability,’’ Nebo said. The NIPP plants being managed by the NDPHC are the Alaoji, Ihovbor, Calabar, and Egbema power plants. Others are Gbarin, Geregu 11, Ogorode, Olorunsogbo, Omoku as well as the Omotosho plant.
In his remark, Mr Mohammed Adoke, the Minister of Justice, assured participants that government had put in place legal and legislative framework to safeguard investments in the country. According to him, the 2005 Power Sector Reform Act saw the transformation of NEPA from state owned monopoly to limited liability companies..
“The recent privatisation of PHCN’s successor electricity distribution and generation companies is a demonstration of government’s commitment to the reform process Our goal is to provide the requisite enabling environment that can deliver efficient power required for economic development of the country”. Meanwhile, the Bureau for Public Enterprises (BPE) has fixed July 13 as deadline for the submission of Expression of Interest form, and June 2014 as expected handover date to successful bidders.
The road-show which attracted over 100 investors saw presentations from major stakeholders in the power sector. The event would also be held in New York and Hong Kong to attract more investors. The Nigerian Electric Power Policy of 2001, and the Electric power sector Reform Act of 2005 are the legal framework put in place by government to drive reforms in the sector
