The Federal Government has disclosed plans to partner with a power firm, North South Power Company Limited, in a bid to improve power situation in the country.
Minister of Water Resources, Mr Suleiman Adamu, said the firm would assist in the development of several existing dams for power generation.
Speaking in Abuja, when the board members of the company led by the chairman, Mallam Ibrahim Aliyu paid a courtesy visit to him in his office, the minister reiterated the ministry’s commitment towards partnering with the private sector in the development of the new and existing infrastructure of the sector for the development of small hydro power schemes.
He added that the ministry, in partnership with the Ministry of Power, had set up a Steering Committee on ways to concession the small hydro power schemes for adequate power generation.
The committee, according to him, would come up with regulations and information that would attract would-be investors in the sector.
In his response, the chairman of the company, Mallam Ibrahim Aliyu, said that the company would explore viable opportunities in identified areas.
He pointed out that under the joint venture, the ministry and the North South Power Company Ltd would jointly develop the projects and share revenues accruing from the sale of electricity in the proportion of each party’s contribution.