By Agatha Chitumu, Abuja – The Minister of Power, Engr. Abubakar Aliyu, Tuesday restated that there were investment opportunities in the Nigeria Electricity Supply Industry.
In a press release in Abuja dated August 23, 2022, the AD (Information/Press), Odutayo Oluseyi quoted the Minister as saying that the Nigerian Electricity Supply Industry (NESI) was young with many investment opportunities.
The Minister made the statements at the Nigeria-India business forum held at Transcorp Hilton Hotels, Abuja.
The Two-Day forum is with the theme; Expanding trade and investment opportunities between Nigeria and India and it had in attendance various investors and would-be investors from Nigeria and India, Members of the Diplomatic corps of both countries, the Military and various stakeholders.
Represented by the Hon. Minister of Mines and Steel Development, Olamilekan Adegbite, the Power Minister noted further that with the commitment made by President Muhammadu Buhari at the Conference of Parties’ 26th annual summit (COP26) in Glasgow where Nigeria plans to achieve Net Zero Carbon Emission by 2060, structures are being put in place to increase the opportunity for investment in Gas-to-Power and other gas related opportunities.
“The efforts by Government is reducing, and will eventually eliminate, the issues of gas constraints along the gas network.
“We are putting in all these efforts to ensure that timely Return on Investments (ROI) is realized.
“Let me emphasize that the Nigerian Electricity Supply Industry (NESI) is young with many investment opportunities” he said.
On efforts of the Buhari led Administration in the Power Sector, the Minister added that like most other sectors, power has suffered many years of neglect resulting in the sorry-state of its infrastructure, saying several efforts are being put in place to create the enabling environment by retooling of policies, initiation of programmes that are geared towards attracting the right investment and boosting investor confidence.
“This Nigeria-India Business Forum is a strategic platform that has the possibility of showcasing the investment opportunities in the Nigerian Power Sector.
“With the outlook of increasing energy demand in Nigeria, it is imperative that Government take a forward-looking approach towards building future energy sources that is secure, sustainable, affordable and reliable.”
While inaugurating the Nigeria –India Business Forum, the Vice President of Nigeria, Prof. Yemi Osibanjo encouraged business men and women of the huge investment opportunities in various sectors of the economy in Nigeria,” the Minister added
“He expressed optimism that the forum would solidify the already existing business relationship between Nigeria and India with mutual benefits to both countries.