FG eyes Chinese investment to fast-track power projects

Nigeria's Minister of Power, Joseph Tegbe, met with Chinese power engineering firms and financial institutions in Beijing to fast-track the implementation of Presidential Power Initiative projects and attract investment across Nigeria's electricity value chain. These discussions, part of an ongoing Nigeria–China power sector mission, centered on transforming partnerships into bankable projects, financed investments, and completed infrastructure.

Tegbe met with Sinomach Group and China Machinery Engineering Corporation to seek firm completion schedules for ongoing projects and proposed moving beyond conventional engineering, procurement, and construction contracts to broader partnerships involving Chinese firms. These partnerships would involve co-investments in generation, transmission, hydropower, and related industrial projects, providing capital, technology, and technical expertise.

The minister also visited China National Electric Engineering Corporation to strengthen engineering, procurement, and construction cooperation on Nigeria's transmission network. Experts caution Lagos consumers against adulterated palm oil, while the National Petroleum Development and Regulatory Authority signs a pact to strengthen petroleum sector competition.

The transmission segment is critical to electricity supply, and network constraints can lead to load-shedding affecting households and businesses. The minister invited Chinese companies to invest in sectors with significant electricity demand and economic potential, such as steel, automotive manufacturing, digital infrastructure, data centres, cold-chain logistics, and sugar processing.

A structured Nigeria–China industrial cooperation platform was proposed to identify, assess, and develop bankable projects aligned with Nigeria's industrialisation priorities, aiming to support job creation and improve the commercial viability of the power sector.