4,000MW, Too Low For Nigeria – American Investors

A delegation of American
investors in the power sector has described the current 4,000MW as being too low to serve socio-economic lives of 170 million Nigerians.
Leader of the delegation, Roy Yeferez, who paid a visit to the Minister of  State for Power, Mohammed Wakil, at Abuja, Friday, promised to attract 400MW into Nigeria in the next 14 months.
“We are prepared to assist Nigeria with power generation. The paltry generation put at 4,000MW is abysmally low to carter for 170 million people. At least, the country requires 30,000MW now,” Yeferez said.
He told the minister that his team comprises both technical and financial experts and has over 50 years of experience in Foreign Direct Investment (FDI) around the world.
He said the delegation was in Nigeria to create jobs for the teeming citizens of the country.
The group identified site location in Bayelsa State that would generate 400MW of electricity in the next 14 months which it said has capacity to increase to between 500 to 600MW in the next four years.
Yeferez promised the delegation’s commitment in enhancing endless potentials that abound in Nigeria regretting that it was unfortunate that foreign media are  wash with only negative stories about Nigeria.
He said, he had rather found out that Nigeria is a wonderful country with warm citizens.
The delegation, The Tide gathered is part of the initiative of President Barack Obama’s Africa Initiative.
The Minister of State for Power, Mohammed Wakil, expressed delight at the visit and highlighted four key reasons why Nigeria remains the best investment destination in Africa.
He listed a legal environment that is proactive for investment, huge marker for a population of 170 million people, big purchasing power and the political will to drive and support the sector.