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FG targets 10,000MW of electricity with 200 dams

By on January 23, 2014

The Federal Government has said it is currently building over 200 new dams in order to achieve its target of 10,000 megawatts of electricity at the end of this year.

Vice-President Namadi Sambo stated this on Tuesday while granting an audience to the management of a Japanese company, Marubeni Corporation, at the Presidential Villa, Abuja.

A statement by the vice-president’s spokesperson, Mr. Umar Sani, quoted Sambo as commending the firm for helping in the building of the hydro dams, especially the Mambilla Dam and others.

The vice-president asked the management of the company to invest in the area.

He also asked the management of Marubeni to explore other areas of investment opportunities that were abundant in the country.

Sambo said the present administration had put in place many incentives to encourage investors in all sectors of the economy.

He told the management of the company to explore opportunities in the solid minerals sector, noting that the sector had been neglected in the past and that the President Goodluck Jonathan administration was working hard to develop it.

The vice-president also urged the firm to take advantage of the huge deposits of coal in the country as the government was encouraging the private sector to engage in the coal-power project.

Sambo gave an assurance to prospective investors that the government was taking necessary steps to deal with the issue of shortage of gas, which has been a problem for the newly built thermal power plants.

He urged the company to invest in this sector as the price of the product in the country is cheaper than anywhere in the world.

 

 

[Punch]