Abuja - The Minister of Power, Prof. Chinedu Nebo on Tuesday in Abuja called on South African investors to invest in Nigeria’s fledging power sector
Nebo, who made the call when he received a trade and investment delegation from South Africa, stressed the need for both countries to forge a stronger strategic business partnership that would be a model in Africa.
"We are desirous of doing business with South Africa.
"The telecommunication giant MTN, Shoprite and other South African companies are doing well here, we want more of them in the power sector too.”
He said Nigeria was willing to tap from South Africa’s expertise in the power sector, especially how it was able to generate 40 000MW for its 43 million people.
Nebo said it was worrisome that the country was still struggling to generate 5 000MW for 160 million people.
He said Nigeria would need to generate 40 times more power to meet up with South Africa, and stressed the need for all stakeholders to support the Federal Government’s power roadmap.
The minister assured the trade delegation of the enormous opportunities in the sector, especially with the ongoing privatisation of the sector and government’s interest in renewable energy.
"We also want to explore our abundant coal reserves, South Africa can avail us with the knowledge of using clean coal technology.
"We need to reiterate that we are prepared to sign MoU with South Africa; we want to tap from your experience to energise our economy,’’ he said.
Earlier, the leader of the South African delegation and Deputy Minister for Trade and Investment, Elizabeth Thabethe, expressed her country’s readiness to strengthen trade ties with Nigeria.
Thabethe stressed the importance of energy to the economic development of any nation and reiterated South Africa’s readiness to partner with Nigeria in this regard.