AfDB proud of local power privatisation project

African Development Bank

African Development Bank

from AUGUSTINE OSAYANDE in Abuja, Nigeria
ABUJA – THE African Development Bank (AfDB) has hailed the country’s power privatisation exercise.

Officials described the initiative as “a global comprehensive power reform for which the bank was proud to be associated with.”

Lead Economist of the bank, Barbara Barungi, stated this when she led a delegation of the bank to the office of Minister of State for Power, Mohammed Wakil.

She said since the handling of the power assets to private owners, there had been tremendous interest shown by investors from around the world.

According to her, the bank’s interest is in the area of developing working models using the platform of Private Public Partnership (PPP) was urgent, stressing that the bank will further support other bankable initiatives in the sector.

Wakil, while receiving the delegation, said there was need for capacity building, as a way of effectively harnessing the gains of the on-going privatisation exercise in the sector cannot be over emphasized.

This is against the backdrop of the fact that the power sector is largely driven by technical knowhow and skills.

He observed that training is key in the acquisition of expertise, this he said must be present as the nation expects nothing but uninterrupted power supply.

The Minister stated that trained manpower would enable the sector remain on track in the quest to deliver on the government’s Transformation Agenda for the power sector.

He expressed the determination of President Goodluck Jonathan’s administration to provide legislative framework, institutional capacity and political will – ingredients necessary for the creating an enabling environment for would-be investors to come into the sector.

“Government is aware of the enormity of privatization, especially as it was done in a single swoop, hence it has provided a safe net to absorb the shock through various capacity-building initiatives like effective communication, Data management, Information Technology that would assist in tracking the sector’s activities among others,” said Wakil.

The minister said government would reposition its Rural Electrification Agency for service delivery.

He called on development partners and donor agencies to come on Board, as the power sector is now cruising like a fast moving train.

– CAJ News




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Posted by on Oct 3 2014. Filed under Finance, Finance & Banking. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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