Chinese firm plans to build a 20,000 megawatts electricity generating plant in Nigeria, Minister of Power Prof. Chinedu Nebo said recently.
Vice-President Namadi Sambo, also said the government has approved $3.7b to boost power transmission to 20,000mw.
It was not, however, clear whether the cash is in support of the proposal by the Chinese firm.
Sambo spoke in Canada during a meeting with the Nigeria-Canada Association Greater Toronto Area.
Nigeria generates less than 4,000mw of electricity which Nebo, who spoke during a meeting with a British business delegation led by the Lord Mayor of London, Roger Crifford, described as abysmally low.
The minister said Nigeria needed to generate 200,000mw to achieve the same energy per capital as South Africa – Africa’s largest economy.
Nebo said flared gas will power the plant, which one of the biggest power generating companies in China is proposing to build. Nebo said: “One of the largest power generating companies in China is talking to us. The market is open. We are looking at Europe and Asia and beyond.”
He added that a South Korean firm is also working with the Federal Government to build 1, 000mw of solar energy annually for the next 10 years as part of the energy mix component of the power sector reforms.
The minister said: “We need a robust energy mix. For security purpose, as a nation, it is not expedient to have a source or two. We need a good mix of power. We now have wind turbines; solar power too is being commissioned, but we are still far (behind), considering our potentials.”
“Apart from GE (General Electric), the Asians are more in a hurry. That’s why we are urging investors from the UK to buy into the power sector. Those who take the first initiatives now stand to benefit more as had happened in the telecoms sector.”