FG eyes Chinese investment to fast-track power projects

Minister of Power Joseph Tegbe met with Chinese power engineering firms and financial institutions in Beijing to expedite the delivery of Presidential Power Initiative projects and draw investment into Nigeria's electricity sector. The high-level talks centered on transforming partnerships into financially viable projects and completed infrastructure.

Tegbe discussed with Sinomach Group and China Machinery Engineering Corporation to ensure swift completion of ongoing Presidential Power Initiative projects. The minister suggested broadening traditional engineering, procurement, and construction contracts to more comprehensive partnerships involving Chinese entities. Chinese partners would jointly invest in generation, transmission, hydropower, and related industrial projects, contributing capital, technology, and technical know-how.

The partnership aims to hasten project completion, boost transmission capacity, and employ blended financing methods. Tegbe also met with China National Electric Engineering Corporation to bolster engineering, procurement, and construction cooperation on Nigeria's transmission network. The transmission sector remains vital, as network limitations can lead to power outages affecting households and businesses.

The delegation observed a high-voltage cable factory acceptance test at Hengfei Cable's Changsha Industrial Park to ensure equipment for Nigerian transmission projects adheres to technical standards before shipment. Tegbe invited Chinese firms to invest in sectors with significant electricity demand and economic potential, such as steel, automotive manufacturing, digital infrastructure, data centers, cold-chain logistics, and sugar processing.

The minister proposed a structured Nigeria-China industrial cooperation platform to match additional generation and transmission capacity with industrial demand, ultimately supporting job creation and enhancing the commercial feasibility of the power sector.