VP Sambo Says Power Sector Conference A Success

 

The Vice President Arc Mohammed Namadi Sambo says the conference on the power sector organised by the National Council on Privatisation in collaboration with other partners was a huge success.

 

The Vice President, who is also the Chairman of the NCP, stated this at the closing ceremony of the Nigeria Power Sector Investors Conference, with the theme “Invest in Nigeria’s power Sector….a rewarding ROI awaits!," which held on Monday, at the Banquet Hall of the Presidential Villa, Abuja.

 

Arc Sambo expressing delight with the impressive turnout and the outcome of the conference, said “the very concrete commitments for access to cheaper, securitized and structured long-term funds made today, has created great hope for both on-going and green-field projects in the Power Sector.”

 

“The level of interest and commitment which various financial partners have expressed and are demonstrating, by way of preliminary business agreements and Memoranda of Understanding (MoU) signed today, underscore the fact that our expectations have not only been met but have been greatly surpassed.  “

 

The Vice President who also said the Conferences had met its objectives enumerated them to include creation of a forum at very high level to enable various players in power and infrastructure interact; showcasing the enormous benefits and opportunities in the Power Sector; and also to expose operators of the power and infrastructure projects of the multi-source avenues to funding, existing both locally and internationally;

 

Others he mentions were, to reassure local and international investors of Nigeria’s friendly business environment, the high yields and returns on investments and the safety of their investments; and essentially, it is of performing marriages between financial institutions and businesses in the power and other infrastructural companies in Nigeria.

 

Vice President Sambo used the opportunity to commend the private sector for the confidence it had shown in the Transformation Agenda of the President Jonathan administration, which he stressed was yielding positive results, saying “we are encouraged the more, to continue to open our doors to private sector to participate in all areas of infrastructure development across the country.  This should be a win-win situation for all and we will always be guided by good policy formulation and implementation towards this.”

 

“We expect that in the months ahead there would be substantial infusion of financial resources into the power sector and the rest of infrastructure both from national and international sources, “he also added.

 

 Vice President Sambo urged “participants to ensure that the friendly handshakes that this conference witnessed and the financial deals that have taken place will be pursued to concrete realization.”

 

While appreciating the support of President Goodluck Jonathan to the success of the event, he reiterated the commitment of the administration to continue to provide good governance, transparency and ensure the rule of law was enshrined in the polity, adding that the conference would be made an annual event to avail stakeholders the opportunity to review achievement of the power sector.

 

Highlights of the conference were the Presentation of Certificate to the new owners of the Sapele Phase One Power Plant by Vice President Sambo and also the signing of Memorandum of Understating by the Permanent Secretary of the Ministry of Power, Ambassador Godknows Igali. The conference also had sessions on power transmission, distribution and generation; gas; agriculture and water resources; health, education, housing and social services; as well as on transportation, solid minerals and mines and steel.