Power Sector: Vice President Promises More Private Sector Investment

Channels Television  
Updated March 1, 2014

Vice President Namadi Sambo has reaffirmed Government’s commitment towards creating an enabling environment that would encourage private sector investment into the power sector.

In a press release signed by the Head, Public Communications at the Bureau of Public Enterprise, BPE, Chigbo Anichebe, the Vice President, who is also the Chairman of the National Council on Privatization (NCP), said that the challenges facing the electricity sector in Nigeria were enormous.

He however maintained that President Goodluck Jonathan’s administration is committed and determined to keep “its promise of taking Nigeria out of its perennial darkness within the shortest possible period”.

While commending the roles of the NCP, the Bureau of Public Enterprises (BPE) and other key stakeholders for the actualization of the handover, the Vice President reminded the new owners to keep to the agreed covenants.

According to him, Nigerian Electricity Regulatory Commission (NERC)  and the BPE would  continually monitor the operations of the successor companies, with a view to sanctioning  any core investor that does not deliver on  the performance agreement that was executed with the government.