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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.

Excerpt:


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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