Business

Explore vast opportunities in power deficit, Shettima tells investors

Vice President Kashim Shettima on Monday appealed to local and foreign investors to explore the vast opportunities created by the power deficit and the Federal Government’s bid to drive additional investments to invest in Nigeria’s energy sector.

This is as he pledged the commitment of the Bola Tinubu administration to address the country’s energy deficiency just as it remains focused on enhancing the ease of doing business.

He stated this during the financial bid opening for the privatisation of the five National Integrated Power Project (NIPP) Plants in Abuja.

According to him, the occasion “serves as a robust assurance to bidders and the start of an investment with promising returns.”

A statement issued by his spokesman, Stanley Nkwocha, informed that represented by the Deputy Chief of Staff to the President (Office of the Vice President), Sen. Ibrahim Hassan Hadejia, the Shettima said: “Nigeria’s power deficit extends an open invitation to domestic and international partners. We are here to urge collaborative efforts to craft enduring solutions.

“The government remains resolute in addressing the energy deficiency and is focused on enhancing the ease of doing business.”

The vice president, however, urged prospective investors in the plants to “bear the weight of trust in utilizing these resources for the greater good of the nation,” even as he implored them to “adhere to the highest standards of best practices if we must pursue a shared objective.”

He further assured that the “National Council on Privatisation and the Bureau of Public Enterprises are prepared to ensure that what we do has an effect on President Tinubu’s comprehensive eight-point plan, and a meticulous and transparent privatisation scheme within the power sector inspires confidence in our operations.

“As regulators, our commitment remains steadfast—we must persist as facilitators of these reforms. There are no shortcuts on the path to realizing the dream we’ve promised our beloved nation.”

Shettima noted that the success of the ‘pivotal moment’ underscores the government’s commitment, “not just as a friend to our enterprises and investors but as a facilitator of growth and development.

“We are here to fulfill our pledge to the nation and reassure them of our resolve to support initiatives that foster economic vibrancy and sustainability.”

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