FG to Licence 8 New Power Generating Companies

Category: Power


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FG to Licence 8 New Power Generating CompaniesFederal Government has completed plans to grant licenses to eight new power generating companies within the next two weeks to enable them set-up power plants. The eight power plants when completed are expected to boost the country\'s power generation with a total of 5,835.50MW. Although authorities at the Nigerian Electricity Regulatory Commission (NERC) refused to unveil the names of these companies at press time last night, THISDAY checks yesterday revealed that the power projects would be sited in five states of the country, Ogun (1,250MW), Rivers (60MW), Abia (1000MW, Lagos (39MW), Rivers (50MW), Abia (624MW) and Delta (2,800MW). Minister of Power and Steel, Senator Liyel Imoke, said in a statement yesterday the government would present its first batch of power licences to these firms who have satisfied set conditions. \"The Nigerian Electricity Regulatory Commission will issue its first batch of power licences within the next two weeks\', he said. The minister, in a statement signed by his Chief Press Secretary, Mr. Clinton Adebolu Oni told a trade delegation from Indonesia that FG decided to deregulate the power sector in order to allow private sector participation in generation, transmission and distribution of electricity to consumers. - 3rd party

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