Page 9 - AfrElec Week 41 2021
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AfrElec INVESTMENT AfrElec
Nigeria offers incentives for the
sale of five power plants
AFRICA THE Nigerian government, determined to 676Mw installed capacity and Omotosho gener-
dispose of key economic assets, including five ating plant churns out 451 Mw.
plants, has rolled out incentives to encourage Nigeria is presently accelerating its privatiza-
investors’ interest, the government said on Octo- tion campaign and opening up the entire econ-
ber 12. omy to private sector drivers.
In a publication released by the country’s A major infrastructure to support the sale
Bureau of Public Enterprise (BPE), investors are of these power plants, according to our offi-
told that the Power Plants will enjoy the benefits cial source, is the AKK Gas Pipeline, which is
of zero import Duties, secured off take deals for expected to serve as a gas feeder channel, con-
electricity, political risk guarantees, and seamless necting the country’s Gas-Fired power plants.
power transmission facility and gas supply assur- The Country’s President, Muhammodu
ance. Pricing regimes for electricity tariff have Buhari, announced last week his intention to
also been adjusted to allow for greater flexibility. fund the 2022 Budget deficit of N5.01 trillion
The power plants were built at various times from the sale of privatized assets, amongst
by the Niger Delta Power Holding Company others.
(NPDC), a specialized agency set up by the gov- He announced that “the fiscal year 2022 is
ernment to boost rapid power infrastructure very crucial to his administration’s efforts at
development in the country. ensuring that critical projects are completed and
The Benin Generation Company has a put to use to improve the general living condi-
nameplate capacity of 451Mw and is located tions of Nigeria.”
in the gas rich province of the country’s Niger Nigeria at the moment is only able to provide
Delta region, while the Calabar Generation has a electricity to about half of its 200mn population.
562Mw nameplate capacity, Geregu Generation
plant has 506 Mw, Olorunsogo Generation has
Week 41 14•October•2021 www. NEWSBASE .com P9
