Canadian Govt To Invest In Nigeria’s Power Sector

The Canadian government has revealed its interest to invest in Nigeria’s power sector and has sought specific areas of participation in the country’s power plan.

The Canadian government noted that as a second global energy superpower, it is interested in the unfolding development in the Nigeria’s electricity market.

The Canadian High Commissioner to Nigeria, Mr Chris Cooter, said this when they paid a scheduled visit to the Minister of Power, Professor Barth Nnaji, in his office.

The High Commissioner stated that there was a global awareness that something massive was unfolding in the power industry in Nigeria.

He said he came to seek from the minister certain specific areas of challenge Canadian firms could participate in the sector.

He said: “The air indicates that something is enveloping Nigeria’s capacity to lead the world. We are here to compliment these efforts to resolve your electricity challenges and galvanize your industrial leadership of Africa.”

The envoys predicted an explosion of employment in the sector as soon as the reforms are through and allayed the current fears being entertained by workers on lay-offs.

Mr. Cooter announced that major Canadian energy companies will be visiting Nigeria soon to join other multinational Corporation in bidding for certain areas of the Nigerian electricity sector, especially Hydro where he noted, Canada has the highest comparative advantage in the world.

The High Commissioner said such institutional structures as bulk trader and focus on privatization are already exciting global investors adding that the country’s bidding process was helping matters and urged that the “foot remains on throttle” to stamp out institutional corruption. “Canada will go the whole hog with you,” the envoy pledged.

In response, the Minister of Power, Professor Bart Nnaji expressed Nigeria’s readiness to partner with Canadian construction giants in the Mambilla and Gurara hydro electric power projects expected to jointly produce 3,300MW of electricity.

He told the visiting Canadian Envoys that reforms in the power sector have institutional and legislature backing and as a result, their implementation has been procedurally systematic to avoid loopholes that ruined past efforts in the sector.

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