Business Nigeria to Sell TCN for $20bn, Plans to Invest in Solar Power Electricity Generation - Prof. Nebo



Prof. Chinedu Nebo, Nigeria's Minister of Power said the country is planning to sell the Transmission Company of Nigeria and also wants to invest in alternative energy generation sources so the electricity demands of the nation could be met.

Excerpts from Vanguard:

Nigeria will earn more than $20 billion from the sale of the assets of its national electricity transmission company, TCN, as it struggles to provide adequate power to Africa’s largest economy, Minister of Power Chinedu Nebo said.

The sale of state-owned Transmission Company of Nigeria may start “in a few years,” Nebo said in an interview with Bloomberg Television Africa in Abuja, the capital. The government will also focus on developing renewable energy projects to diversify its supply of electricity. The interest now for transmission is over $20 billion. People are coming from everywhere,” he said.

“The process could take the form of a public-private partnership, a concession or a build-operate-transfer. While divesting from most other parts of the power industry, the government is planning to invest more in renewable energy such as solar and hydro power, Nebo said.

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