3 December 2012

Nigeria: South Africa Seeks to Invest in Country's Power Sector

The South African Ruling Party, the African National Congress (ANC), has said it has what it takes to assist in lifting Nigeria's tottering power sector out of the wood, a statement from the ministry of power has said.

Speaking through its Treasurer General and former Energy Minister, Mr. Matthews Phosa, who led a team of investors from South Africa on a courtesy visit to the Minister of State for Power, Hajiya Zainab Ibrahim Kuchi recently, he said the South African Companies could replicate the success story of MTN in Nigeria on the electricity sub sector.

In his presentation, the Executive Chairman, Guma Group, Robert Gumede, listed their areas of strength to cover virtually all sectors of the power sector including nuclear power, saying they were in Nigeria to explore potential areas of investment.

The Minister of State Hajiya Zainab Kuchi, told the delegation that Nigeria has a structured response to her power challenges with a Roadmap it is implementing with care and diligence.

She told the South Africans to study the Power Sector Roadmap and come up with specific area of interest and assured that there were a lot of gaps to be filed in the sector. "Nigeria needs help," she lamented.

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