Western firms planning $5bn investment in power sector

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A consortium of Western investors has presented their plan to invest over $5bn in Nigeria’s power sector, the Federal Government has said.

According to information obtained from the Office of the Minister of Power in Abuja on Sunday, the investors would focus majorly on the renewable energy subsector of the industry.

The Special Assistant to the Minister of Power on Media and Communications, Aaron Artimas, who confirmed this to our correspondent in Abuja on Sunday, stated that the presentations by the investors were made to the Minister of Power, Sale Mamman. The minister’s aide referred our correspondent to the Twitter handle of the Office of the Minister of Power, where it was captured that the consortium would also partner government in electricity grid development across the country.

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