May 9, 2013
Nigeria expects to reap an annual investment of USD 10 billion in the power sector, following its successful transfer to the private sector.
President – Goodluck Jonathan said this in his remarks at the Africa strategic infrastructure initiative session, at the World Economic Summit in Cape Town, South Africa.
He said: “Just in the last two weeks, my government completed the biggest transfer of power assets in Africa to private investors.”
“By this act, the power sector in Nigeria is now totally privatised, except for the transmission company, which is concessioned to a private firm to manage. Following these critical reforms, we expect an annual USD 10 billion investment to follow for the next decade.”