8 December 2012

Nigeria: Power Minister Signs Performance Pact With Agencies' CEOs

Minister of State for Power, Hajiya Zainab Ibrahim Kuchi yesterday signed a performance bond with agencies under the ministry with a marching order to deliver adequate power to Nigerians.

Present at the ceremony in Abuja were Chief Executive Officers and representatives of the ten electricity generation companies and six generation companies which were created from the unbundled Power Holding Company of Nigeria (PHCN).

Also present were the CEOs of the Nigerian Bulk Electricity Trading Plc, Rural Electrification Agency, and Transmission Company of Nigeria.

The CEOs are expected to in turn sign performance bond with their directors to achieve the needed objective. Representatives from the National Planning Commission were present to officiate the signing.

Recently, President Goodluck Jonathan signed a performance contract bond with all the ministers, with a view to shoring up achievement of his government. He urged them to also sign same with the heads of the agencies under them.

Speaking, Hajiya Zainab Kuchi said "for us to see and encourage investors, there is the need to up our performance which would ultimately give us the energy supply we need for development."

She said with the completion of the sale of the PHCN successor companies, and the establishment of the Nigerian Bulk Electricity Trading including the upward review of electricity tariff, the sector has continued to attract investors from all over the world.

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