February 24, 2024
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ELECTRICITY RENEWABLE ENERGY

VP Shettima Urges Investors to Seize Opportunities in Energy Sector Privatization

Nigerian Vice President Kashim Shettima of Nigeria has encouraged investors to take advantage of new opportunities arising from the power deficit and the federal government’s efforts to attract additional investments in the country’s energy sector.

During the financial bid opening for the privatization of five National Integrated Power Project (NIPP) Plants in Abuja on Monday, Vice President Shettima pledged the government’s commitment to addressing the energy deficiency while focusing on improving the ease of doing business, The Guardian reported.

He said the occasion “serves as a robust assurance to bidders and the start of an investment with promising returns.”

Represented by Sen. Ibrahim Hassan Hadejia, the Deputy Chief of Staff to the President (Office of the Vice President), Shettima emphasized that Nigeria’s power deficit creates opportunities for domestic and international partners.

He urged collaborative efforts to find lasting solutions, stating, “The government remains resolute in addressing the energy deficiency and is focused on enhancing the ease of doing business.”

Shettima urged potential investors to use the resources for the greater good of the nation and adhere to the highest standards of best practices. He assured that the National Council on Privatization and the Bureau of Public Enterprises are prepared to ensure a transparent privatization scheme within the power sector, inspiring confidence in operations.

“As regulators, our commitment remains steadfast—we must persist as facilitators of these reforms. There are no shortcuts on the path to realizing the dream we’ve promised our beloved nation,” Shettima added. He emphasized that the success of the privatization process underscores the government’s commitment to supporting initiatives that foster economic vibrancy and sustainability.

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