Committee on investment in power sector inaugurated

Federal government has inaugurated a 17-member power sector investment catalogue ( PSIC) committee to produce a document that would guide investors in the sector.
According to the Permanent Secretary, ministry of power, Amb. Godknows Igali, who inaugurated the committee, the move is aimed at bringing about an improved power generation capacity and capability in the country.
He said the document would serve as a guide to would-be investors in the sector, stating further that the government would will collaborate with state governments in the area of land allocation for solar power generation, as large area of land would be required.
He pointing out that with investors looking closely at the opportunities in the fledging energy sector in Nigeria, the government had commitment to establish a level playing ground with positive and encouraging policies and incentives.

He further said that the committee would be requested in conjunction with other stakeholders to identify potential areas of investment in the power sector from Generation (Hydro, Thermal, Gas, Coal, Nuclear, Wind and Solar), to Transmission and Distribution value chain.
He said the committee would also identify and recommend appropriate policy measures that would encourage massive investment in the sector.
Speaking earlier, the Chairman of the committee and director, investment and sector development department (ISD) of the ministry, Oluremi Akinsoji,
assured that the committee would perform credibly well so as to justify the confidence repose on it.

She stressed that the committee would not disappoint the government as it would operate strictly within the stipulated terms of reference.
She further assured that working together with other members, the committee would come up with workable funding matrix that would guide investors and make the processes seamless for those that were desirous of operating in the nation’s power sector. (NAN)