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Business Electricity: Nigeria Signs MoU With 3 Power Companies



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The federal government of Nigeria has signed a Memorandum of Understanding with 3 power companies in an added effort to boost generation and distribution of electricity so as to solve the problem of epileptic power supply in the country, Vanguard says.


The Federal Government has signed Memoranda of Understanding, MoU, with three power firms – 3D Hitech System Ltd, SEPCOIII Electric Power Construction Corporation, and CGC Nigeria Ltd, with a view to boosting generation, distribution, and supply in Nigeria.

The Minister, who noted that transmission is fast becoming a major bottleneck in the distribution of electricity, commended both the CGC and SEPCOIII for their interest in financing and providing transmission infrastructure, describing it as a move in the right direction.

According to him, the money being injected into the sector by private institutions will no doubt, go a long way to inject more life into the transmission network. He further assured of the necessary moral support and government backing in the realisation of its mandate.

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#Nigeria #Vanguard #Hitech #SEPCOIII #CGC

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