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Power Sector conference a success - VP Sambo

11 February 2014, 09:55

Abuja - Vice-President Namadi Sambo has described the conference on the power sector, organised by the National Council on Privatisation (NCP) in collaboration with other partners, as a huge success.

Sambo, who is also the Chairman of the NCP, stated this on Monday in Abuja at the closing ceremony of the Nigeria Power Sector Investors Conference, with the theme “Invest in Nigeria’s Power Sector….a rewarding ROI awaits!”

He expressed delight with the impressive turnout and the outcome of the conference.

“The very concrete commitments for access to cheaper, securitised and structured long-term funds made today have created great hope for both ongoing and greenfield projects in the power sector.

''The level of interest and commitment which various financial partners have expressed and are demonstrating, by way of preliminary business agreements and Memoranda of Understanding (MoU) signed today, underscore the fact that our expectations have not only been met but have been greatly surpassed.”

The Vice-President further noted that the conference had met its objectives, which included the creation of a forum at very high level, to enable various players in power and infrastructure interact and showcase the enormous benefits and opportunities in the power sector.

He said the conference also exposed operators of the power and infrastructure projects of the multi-source avenues to the funding existing both locally and internationally.

Sambo commended the private sector for the confidence it had shown in the Transformation Agenda of the President Goodluck Jonathan administration.

“We are encouraged the more to continue to open our doors to the private sector to participate in all areas of infrastructure development across the country.”

“This should be a win-win situation for all and we will always be guided by good policy formulation and implementation towards this.”

“We expect that in the months ahead there will be substantial infusion of financial resources into the power sector and the rest of infrastructure, both from national and international sources,” he added.

The Vice-President urged participants to ensure that “the friendly handshakes that this conference witnessed and the financial deals that have taken place will be pursued to concrete realization.”

While appreciating the support of President Goodluck Jonathan to the success of the event, he reiterated the commitment of the administration to continue to provide good governance, transparency and ensure the rule of law was enshrined in the polity.

-    NAN

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