FG seeks private sector partners to jointly own electricity industry – Power minister

Abubakar Aliyu, the Minister of Power has said that President Muhammadu Buhari has plans to ensure that the electricity supply industry in Nigeria is jointly owned by the federal government and the private sector.

This was made known by Mathew Osumanyi Dan’asabe, the Information Officer, Press and Public Relations, Ministry of Power, while receiving the Ambassador of Turkey to Nigeria, Mr Hidayet Bayrata on Friday.

The minister said the Federal Government is open to partnering with investors in order to improve power supply in Nigeria, according to NAN.

What the minister of Power is saying

The minister noted that the relationship between Nigeria and Turkey has existed for a long time which resulted in the signing of a Memorandum of Understanding (MoU) in October 2021 for mutual benefits.

He told the ambassador that the distribution side of the sector is an area worth investing in and various interventions are being put into the sector.

He enjoined Turkey and other countries to partner with Nigeria and share experience in the fields of energy, renewable energy and energy efficiency.

The Turkey ambassador in his response noted that his visit is a follow-up to the MoU signed in 2021

What you should know

• On October 20, 2021, Recep Tayyip Erdoğan, the president of Turkey was in Nigeria for a two-day visit during which both countries signed bilateral agreements and MoU.
• Eight major Agreements/MoUs were signed by both countries on a number of the key sectors which includes: Defense Industry, Mining and HydroCarbons among others.