MINISTRY OF FINANCE ON POWER GENERATION

MINISTRY OF FINANCE ON POWER GENERATION

The Hon. Minister of Finance and National Planning has met with the Vice President of the Shanghai Electric Group and his delegation on a courtesy visit at the Finance Headquarters in Abuja. The Minister welcomed the team to Nigeria as she was informed that this was the VPs first time in the country.

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The Shanghai group appreciated the Minister as they informed her of their company dealings and the various investments they have in many countries across Africa and the world. The company is looking at investing in Nigeria and commended the efforts of the Minister and the Nigerian President Muhammadu Buhari towards the drive of building the financial architecture of the power and energy sector.
They also mentioned they had met with the Minister of Power prior to the meeting.

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The Minister noted that even though Nigeria has challenges, this also presents opportunities for investors. She added that there are significant opportunities for solar power generation due to Nigeria’s tropical climate. She informed the team that 60% of the power distribution network is now with the private sector which has significantly supported the industry. She called on the company to also look into Build-Operate-Transfer (BOT) partnerships amongst other investment opportunities.

The Shangai Group is a Chinese multinational power generation and electrical equipment manufacturing company with a history that traces its roots to the year 1880 and it is the worlds largest manufacturer of steam turbines.

Imoh Inyangete

Imoh Inyangete is a Web Developer for "George Udom News Desk", He`s also an ICT EXPERT, Blogger, Undergraduate, Digital Marketer and finally a Programmer.

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