Vice President Yemi Osinbajo, on Monday, in Abuja, said it would take serious private sector investment in Nigeria’s power sector to meet the country’s rising energy needs.
Osinbajo made the observation when he presented the discharge certificate to the Chairman of Transcorp Ughelli Power Limited – the core investor in the Ughelli Power Plant -, Mr Tony Elumelu
The discharge comes one month after the National Council on Privatisation approved the recommendations of the Bureau of Public Enterprise that Ughelli Power Plc be delisted from routine monitoring, having satisfied five core post-acquisition requirements, namely: available capacity, capital expenditure, human resources, health, safety and environment and corporate social responsibility.
He called on other private sector players to follow suit, saying, “We hope that this will not be the last in the series of private power companies that are taking over power plants that are unable to meet the expectation.