10 October 2008
Lagos — The Federal Government and France on Wednesday, signed a Memorandum of Understanding (MoU) on bilateral relations aimed at developing Nigeria 's power sector.
Minister of State for Energy (Power), Mrs Fatima Ibrahim, and France Minister of State External Trade, Mrs Anne-Marie Idrac, signed for Nigeria and France respectively.
The signing ceremony was a follow up to President Umaru Yar'Adua's official visit to France on June 12, 2008 and adoption of a strategic partnership by both countries.
Ibrahim said both countries had a good diplomatic relations over the years, adding that the occasion would deepen the country's relationship with France."
The signing of this MoU, therefore, opens the way for French companies and its private investors to participate in the development of Nigerian economy and power sector in particular.
"The Federal Government acknowledges the pivotal role of adequate and reliable supply of electricity for the socio-economic development of Nigeria," she said.
According to her, government had opened up the power sector for private sector participation, in order to meet the nation's electricity needs, and hinted that government would soon engage the French National Transmission System (Reseau de transport d'electricite) on the possibility of conducting an audit of the power sector.
Idrac commended the Federal Government for trying to address problems in the sector, adding that this was the beginning of co-operation between both countries."
"The French Government will work towards establishing efficiency in the power sector. I was encouraged to hear that state governments are contributing towards promoting power efficiency in the country.
"We have a lot of additional expertise and we want to share it with you. France has always been willing to assist and participate in the Nigerian economy," she said.
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