The Federal Government has reaffirmed that electricity generation would reach 10,253mw, from the current 4,000mw by the end of 2013.
Chairman of the Presidential Task Force on Power (PTFP), Beks Dagogo-Jack, made the disclosure yesterday at the West African Power Industry Convention (WAPIC), which held in Lagos.
Dagogo-Jack explained that additional 2,523mw is expected to come from the National Independent Power Project (NIPP), adding that with the successful completion of various power projects, electricity would rise to 10,253mw next year and increased to 16,000mw by 2015.
The power task force chairman, also disclosed that government had spent about $3.8 billion on the rehabilitation of some power plants, while "$175 million had been expended on gas infrastructure upgrade.
Senior Performance Monitor, Media and Communication Unit at the presidency, Awele Okigbo, said in a statement last night quoted Dagogo-Jack as saying "Power is at the heart of driving the manufacturing sector in Nigeria and a reformed power industry will create enormous impetus for the country to prosper."
"Private investment plays a central role in securing reliable and sustainable power, investors should be looking at Nigeria as a booming market with enormous possibilities and WAPIC 2012 offers them the opportunity to meet high-level representatives from government, utilities and the private sector while gaining knowledge about this market in sessions on gas, metering, solutions for large power users, financial performance and renewal energy," the statement added.
WAPIC is regarded as the main power industry event in the West African region. The exhibition is the largest and most comprehensive display by 46 companies of engineering technology and services for power, industrial and commercial end users.