PMB’s 10,000MW: Foundation Woos $10m Investment To Nigeria

PMB’s 10,000MW: Foundation Woos $10m Investment To Nigeria

Recent ambitious comments by President Muhammadu Buhari over the abysmal power situation in the country, where he noted that the poor power supply to Nigerians is no longer funny with the promised to generate 10, 000 megawatts in the next three years may have started yielding results.

The President who spoke at the opening session of the recently concluded Retreat organised by the National Economic Council (NEC) in Abuja vowed to increase power generation before his first tenure ends in 2019.

Only few days after President Buhari made that odatious statement, Nigerians in the diaspora have started making positive move to woo foreign investors to the power sector.

In response to the President’s disposition on power, the Jose Foundation, a non governmental organisation has said it is wooing a Turkey based firm to invest in the power sector of Nigeria.

In a statement yesterday exclusively to LEADERSHIP Weekend in Abuja, President of Jose Foundation, Prince Martins Abhulimhen said Power Project will inject 30 megawatt of electricity to the Nigerian grid system.

In early March, 2016 data from the Nigerian Systems Operations Department of the Transmission Company of Nigeria (TCN) indicated a drop of power generation from an all time high of 5, 074MW to 2, 800MW.

The situation further deteriorated to about 1, 580MW leaving several states of the federation without power for days.

Only recently, Nigeria was said to have recorded zero megawatts in the national grid system.

The crashing was attributed to gas pipeline vandalising, according to the Nigerian Electricity Regulatory Commission (NERC).

The Jose Foundation said the power situation in Nigeria requires pragmatic action to improve supplies to vital sectors of the Nigerian economy.

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