FG Urges Chinese Power Generation Firm to Consider BOT Investments

Shanghai Electric Group

By Dipo Olowookere

The federal government of Nigeria has asked a Chinese multinational power generation and electrical equipment manufacturing company, the Shanghai Electric Group, to look into Build-Operate-Transfer (BOT) partnerships amongst other investment opportunities in the country.

Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, made this suggestion to the energy firm when she met with the Vice President of the Shanghai Electric Group and his delegation on a courtesy visit at the Finance Headquarters in Abuja.

She said even though Nigeria has challenges, this also presents opportunities for investors, adding that there were significant opportunities for solar power generation due to Nigeria’s tropical climate.

She informed the team that 60 percent of the power distribution network is now with the private sector which has significantly supported the industry.

In his remarks, leader of the team commended the Minister as well as President Muhammadu Buhari for their efforts towards the drive of building the financial architecture of the power and energy sector.

He informed Mrs Ahmed of the company’s dealings and the various investments they have in many countries across Africa and the world, noting that the company is looking at investing in Nigeria.

The Shanghai Electric Group has a history that traces its roots to the year 1880 and it is the world’s largest manufacturer of steam turbines.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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