The Nigeria Minister of Power, Prof. Chinedu Nebo,
has commended the contributions of donor agencies in the ongoing
privatisation of the sector.
He noted that the exercise would have experienced more hiccups but for the expertise, foresight and doggedness of these partners.
The minister spoke when the Donor Coordinating Group, led by the UNIDO Representative, Dr. Patrick Kormawa, paid him visit.
He described as critical the advice and support provided to all the arms of the power sector – regulatory, policy, executive, and technical to ensure a seamless privatisation.
When he received the Zuma Energy Group, led by its chairman, Dr. Innocent Ezuma, the minister said the quantum of coal deposit in the country was large enough to provide the nation with electricity for 20 – 30 years, with reserves unproven in the same region.
“Coal to Power initiative when fully explored will increase power generation capacity, thereby assisting the country to overcome persistent poor power supply as presently experienced.
As a pioneer in coal to power, the Minister commended Zuma Energy’s consistence in the pursuance of the coal project, while assuring that government will put in place a suitable framework for the Power Purchase Agreement (PPA) as well as a Partial Risk Guarantee (PRG) to ensure that, off-takers buy all the power generated from the company’s plant.
The Minister, who expressed optimism that the coal-power project would be a success, also disclosed that the African Development Bank (AfBD) had already indicated interest in the provision of Partial Risk Guarantee (PRG) for coal to power project in the country.
Chairman of Zuma Energy, Ezuma assured that the company looks forward to a joint collaboration with the government for coal-power development with the hope of ensuring energy security for the country.
He briefed the minister on the project structure that is in three phases of exploration, mining and power development. He presented a proposal to the minister on Public Private Partnership (PPP) between the Zuma Energy and the Federal Ministry of Power.
Nebo disclosed that government had achieved 90% success in the payment of workers’ severance packages and pension and 40,093 workers have already received their pay with an additional 5,000 needing to be revalidated. The intention of the government, Nebo vowed government cannot helplessly watch unpatriotic individuals derail the process in transition, but will rather do all within its power to ensure that the objective of privatization is sustained.
The UNIDO Representative, Dr. Patrick Kormawa, said that the group which has the Minster of Power, Prof. Chinedu Nebo as chairman, is focused on providing support for the sector.
He noted that the exercise would have experienced more hiccups but for the expertise, foresight and doggedness of these partners.
The minister spoke when the Donor Coordinating Group, led by the UNIDO Representative, Dr. Patrick Kormawa, paid him visit.
He described as critical the advice and support provided to all the arms of the power sector – regulatory, policy, executive, and technical to ensure a seamless privatisation.
When he received the Zuma Energy Group, led by its chairman, Dr. Innocent Ezuma, the minister said the quantum of coal deposit in the country was large enough to provide the nation with electricity for 20 – 30 years, with reserves unproven in the same region.
“Coal to Power initiative when fully explored will increase power generation capacity, thereby assisting the country to overcome persistent poor power supply as presently experienced.
As a pioneer in coal to power, the Minister commended Zuma Energy’s consistence in the pursuance of the coal project, while assuring that government will put in place a suitable framework for the Power Purchase Agreement (PPA) as well as a Partial Risk Guarantee (PRG) to ensure that, off-takers buy all the power generated from the company’s plant.
The Minister, who expressed optimism that the coal-power project would be a success, also disclosed that the African Development Bank (AfBD) had already indicated interest in the provision of Partial Risk Guarantee (PRG) for coal to power project in the country.
Chairman of Zuma Energy, Ezuma assured that the company looks forward to a joint collaboration with the government for coal-power development with the hope of ensuring energy security for the country.
He briefed the minister on the project structure that is in three phases of exploration, mining and power development. He presented a proposal to the minister on Public Private Partnership (PPP) between the Zuma Energy and the Federal Ministry of Power.
Nebo disclosed that government had achieved 90% success in the payment of workers’ severance packages and pension and 40,093 workers have already received their pay with an additional 5,000 needing to be revalidated. The intention of the government, Nebo vowed government cannot helplessly watch unpatriotic individuals derail the process in transition, but will rather do all within its power to ensure that the objective of privatization is sustained.
The UNIDO Representative, Dr. Patrick Kormawa, said that the group which has the Minster of Power, Prof. Chinedu Nebo as chairman, is focused on providing support for the sector.
No comments:
Post a Comment