FG signs MoU with American investors on power plants

The Federal Government and U.S Yeffet Mesika Group on Monday signed a Memorandum of Understanding (MoU) for the construction of a gas-fired power plant in the country.

The Minister of State for Power, Alhaji Wakil Muhammad, who signed the MoU on behalf of the Federal Government with the five-member delegation from U.S in Abuja, described the agreement as “timely”.

Muhammad said the agreement was made possible by the “determination and doggedness” of its facilitator, Team Africa.

“Team Africa is known to talkless but does more of action,” he said, adding that “their belief in our nation’s potentials has underscored the reliability of Team Africa to deliver on the proposed power project”.

He said the ministry had understanding with Bayelsa Government where the proposed plant would be located.

The minister said the plant would have ancillary transmission line facilities that would make up the turnkey project.

Wakil said that when realised, the project would make the attainment of the government’s target of greater access to quality electricity by Nigerians achievable in no distant future.

The Director, Legal Services in the ministry, Mrs Adetutu Soetan, said that acquisition of project site, discussion with the regulatory agencies would be discussed between government officials and the American group.

Soetan said the project would be funded wholly by the American investors, adding that they would also provide technical competencies for it.

Earlier, the leader of the delegation, Mr Ron Yeferez, said the MoU was the foundation for the development of power projects and transmission lines in Nigeria.

Yeferez expressed optimism that the project would contribute to the attainment of uninterrupted power supply in the country.

NAN