N1-trillion private investment pours into power sector

Posted on: Mon, 10 Sep 2007


Investment by the private sector will increase Nigeria's power generation level with around 8 000 megawatts within the next four years.

The Nigerian Electricity Regulatory Commission (NERC) has issued licences to 21 independent electricity producers in the past 20 months. The total amount of investment is said to be around N1-trillion.

More licenses would be issued as long as applicants meet the conditions set out by the Commission.

Nigeria need about US$90-million investment to generate 70 000 mw electricity.



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