Nigeria signs pact with US firm to build 250MW power plant

By BusinessNews Staff on January 28, 2015

Again, the federal government has signed an agreement with American firm, Missouri American Energy, for the construction of a 250-megawatt (MW) power plant in Nigeria.
Signing the agreement in Abuja, Minister of Power, Prof. Chinedu Nebo said the government was optimistic about the quick completion of the project due to its relatively small capacity.
Nebo, who signed on behalf of the Nigerian government, described the planned injection of 250MW into the national grid by the American energy firm as a feasible feat.
He noted in a statement from the ministry that when compared with larger power projects, it would provide energy quicker and boost the provision of power nation-wide.
By design, the plant is a thermal power plant and will be cited in Rivers State.
“The government is desirous of access to
power. Nigerians are hungry for its supply and as such, ready to swallow any amount of energy offered to us,” said Nebo.
According to him, the company’s citing of the gas-fired plant in Rivers State, a hub for gas, was a welcome development, as it would eliminate the threat of vandalism of pipeline to the plant, given the people’s receptive attitude towards public assets.
He, therefore, called for investment in such smaller quantum to enable the country quickly realise its vision of access to power.

Nebo further advised the firm to catch-in on the provisions of the Power Africa initiative of President Barack Obama, which Nigeria is amongst other first-tranche beneficiary African countries, as well as liaise with General Electric (GE) to firming up a buy-in into its recently launched sponsorship programme for investors in the power sector.
In reiterating the government’s dogged passion for the actualisation of the power sector’s vision of electricity for all Nigerians in the shortest possible time, the minister assured the company and other would-be investors of every necessary support to them.
The statement also quoted the President of Missouri American Energy, Henry Iwenofu as calling for government’s collaboration in facilitating the execution of the first phase of its project in the country.
Iwenofu explained that the consortium was already discussing with development partners within the power sector in striving to seamlessly execute the project’s phases within its design template