Power Sector: FG Secures Fresh Chinese Investment Commitments

The Federal Government has secured fresh investment commitments from Chinese companies to address challenges in Nigeria’s power sector.

 

The Minister of Power, Joseph Tegbe, secured the commitments following a series of high-level engagements with leading Chinese power engineering firms and financial institutions in Beijing.

 

According to a statement issued on Thursday by the Minister’s spokesperson, Adeola Labzy, the investments are expected to accelerate the delivery of projects under the Presidential Power Initiative, PPI.

 

The statement said the engagements focused on converting partnerships into bankable projects, financed investments and completed infrastructure that would improve electricity supply across the country.

 

“The engagements, held in Beijing as part of the ongoing Nigeria–China power sector mission, were designed around a single test: whether each partnership can be converted into a bankable project, a financed investment and completed infrastructure that Nigerians can measure in megawatts delivered, kilometres of lines energised and hours of reliable supply,” the statement read.

 

The minister also pushed for firm and accelerated completion schedules for ongoing PPI projects and called for a shift from conventional Engineering, Procurement and Construction, EPC, contracts to full-scope partnerships in Nigeria.

 

The development comes amid persistent electricity challenges across the country, with many Nigerians still without reliable power supply.

 

Data from the Nigerian Electricity Regulatory Commission indicates that a significant proportion of Nigerians continue to lack access to dependable electricity.