Nigeria Welcomes Nordic Nations’ Move to Boost Local Investment
- By Simeon Ogoegbulem
- Published October 4th, 2010
- News
- Unrated
THE federal government of Nigeria has said it is in full support of moves by the Nordic nations to bring huge investments into the country. Nuhu Way, minister of state for power, made the statement in Abuja while receiving envoys of Norway, Finland and Sweden, Kjell Lillerud, Anneli Vourinen and Per Lingdgarde respectively who jointly visited him in his office.
Wya told the diplomats, government was eager to see to fruition plans by the three countries to join forces and make massive investment in the critical power sector. He therefore implored them to use their expertise in renewable energy to quicken the realisation of the federal government’s roadmap on energy sector.
The minister further told the diplomats that any power project was critical to government agenda. He informed government was keen in delivering on the sector to once again liven up massive industrial activities which the country was hitherto known for.
He further told the Ambassadors government was presented with a task of resuscitating electric power which currently was currently in comatose. He told them that government had liberalized its laws to attract investment thereby adding, they could tell their expected investors to explore the diverse investment opportunities in the country, particularly in addition to the power sector.
Wya told the ambassadors that as part of the country’s preparation for the delegation’s visit, a documentary on the investment potentials in the power sector was being worked on. He informed them that Nigeria had large dam projects which construction it intends to go into partnership with investors, among these are, the 3,000 MW Mambilla dam, the 300MW Gurara dam and the 700MW Zungeru dam projects.
The minister noted that the roadmap on power provides investment environment worth exploring, pointing out that the government must satisfy the power needs of the country especially when a survey had shown the citizen’s preparedness to pay for regular energy whenever available.
According to him, “if you want to really do business in Nigeria, the power sector is your best bet as the return on investment here certainly would surpass that of telecommunications, the government would make it clear to the delegation on arrival that they are at liberty to collaborate with local investors or to go it alone,” he stated.
Responding, the ambassadors pledged their countries’ commitments to assist Nigeria realise its national energy ambition as encapsulated in the roadmap. The delegation is expected in the country this month.
Wya told the diplomats, government was eager to see to fruition plans by the three countries to join forces and make massive investment in the critical power sector. He therefore implored them to use their expertise in renewable energy to quicken the realisation of the federal government’s roadmap on energy sector.
The minister further told the diplomats that any power project was critical to government agenda. He informed government was keen in delivering on the sector to once again liven up massive industrial activities which the country was hitherto known for.
He further told the Ambassadors government was presented with a task of resuscitating electric power which currently was currently in comatose. He told them that government had liberalized its laws to attract investment thereby adding, they could tell their expected investors to explore the diverse investment opportunities in the country, particularly in addition to the power sector.
Wya told the ambassadors that as part of the country’s preparation for the delegation’s visit, a documentary on the investment potentials in the power sector was being worked on. He informed them that Nigeria had large dam projects which construction it intends to go into partnership with investors, among these are, the 3,000 MW Mambilla dam, the 300MW Gurara dam and the 700MW Zungeru dam projects.
The minister noted that the roadmap on power provides investment environment worth exploring, pointing out that the government must satisfy the power needs of the country especially when a survey had shown the citizen’s preparedness to pay for regular energy whenever available.
According to him, “if you want to really do business in Nigeria, the power sector is your best bet as the return on investment here certainly would surpass that of telecommunications, the government would make it clear to the delegation on arrival that they are at liberty to collaborate with local investors or to go it alone,” he stated.
Responding, the ambassadors pledged their countries’ commitments to assist Nigeria realise its national energy ambition as encapsulated in the roadmap. The delegation is expected in the country this month.
