HomeIndustry SectorsFinance and PolicyIndia commits funds to support Nigeria's power sector

India commits funds to support Nigeria’s power sector

Barth Nnaji,
Minister of Power,
14 June 2012 – At the opening of an electrical transmission equipment repair and manufacture operation in Lagos, Indian high commissioner to the west African country, Mahesh Sachdev, said India will extend a US$100 million credit line to support Nigeria’s power sector. The factory opened is owned by the Skipper Group.

Nigeria’s minister of power, Barth Nnaji, who was at the opening, said that by repairing transformers in Nigeria the country could save well over US$9 million and expressed the country’s readiness to support companies manufacturing power equipment. The saving takes the form of the capital avoided in having to ship damaged transformers abroad for repairs.
At the end of 2009, the Skipper Group, in conjunction with Bharat Heavy Electricals, signed a memorandum of understanding with the Nigeria’s ministry of power to establish three 500 MW coal fired power stations in the country.