USA Investing in Nigerian Economic Development, Solar Power

ABUJA, Nigeria, Oct. 8, 2014 /PRNewswire/ -- With a commitment to boost electricity supply in Nigeria, President Goodluck Ebele Jonathan and the Federal Government are on track to restore uninterrupted power supply to Nigerians and to complete ongoing independent power projects spread across the country.

To boost this effort, the Nigerian Ministry of State for Power submitted a proposal for the realization of two 50-megawatt solar-powered plants to be built in Kumbotso, Kano State, and Karu, Abuja in the Federal Capital Territory. The international consortium of investors, Global Business Resources, U.S.A, was recently in the country for a follow-up discussion and visit with Nigerian government officials.

The American investors are focused on developing actionable and renewable energy generation strategies using the abundance of solar resources available in the country.   

"The group has the target to develop a master plan that will fast track 100% rural electrification in the next five years, and has informed Nigerians that the project will leverage on resources from the Obama – Power Africa Initiative," Ministry states. It stressed that the project would help facilitate rural electrification projects via a public-private partnership agreement.

Apart from the desire to create a framework for the building of the two plants, the investors are also prepared to undertake Geographic Information System (GIS) mapping for renewable energy as previously carried out other African countries including Ghana, South-Africa, Kenya and Ethiopia.

The Nigerian government is greatly looking forward to this initiative as a way to grow the economy and to provide reliable energy for all Nigerians. Nigeria welcomes and encourages investors to take advantage of this current need-gap, while asserting that the vast resources of oil, gas, wind, sun, and biomass should be developed for power generation.

The World Bank recently commended the leadership in Nigeria for recent efforts to reform the country's power sector, and James Nicholas, leader of the American investor delegation, was very optimistic about a prompt delivery of this solar project. He also indicated that Africa has the most promising and cost-effective solar potential. 

These materials are distributed by LEVICK on behalf of the News Agency of Nigeria. Additional information is available at the Department of Justice in Washington, D.C.

SOURCE News Agency of Nigeria