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Nigeria: Power is Nigeria's Priority, Says President Yar'Adua

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Nigeria First (Abuja)

16 May 2008
Posted to the web 16 May 2008

Abuja

President Umaru Musa Yar'Adua has said that the provision of adequate power is the priority of the country and the administration has created the environment for profitable investment in the sector.

President Yar'Adua was speaking to a delegation of SGC Consultancy Ltd of China at State House, Friday May 16.

"Power is our number one priority, and we offer an environment with great opportunities for all investors", he said, adding that "we have put up legislation and regulations to guarantee excellent returns and remittance of profits".

President Yar'Adua said the country's power and energy sector would provide very good opportunities, and welcomed the Chinese company's interest in building a strong partnership with Nigeria.

Earlier, Dr. Yui Bor Lee, chairman of SGC Consultancy Ltd., had told the President that his company was 29th on the Fortune Global 500 in 2007, with assets worth over $195bn, adding that they provided over 88% of the power being used in China, servicing over 1 billion people. He said the company was interested in investing in the energy sector in Nigeria.

Relevant Links West Africa Economy, Business and Finance Energy Nigeria

Senator Dr. Amadu Ali, former PDP National Chairman led the seven-man SGC delegation to the State House.

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