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Nigerian Government has said it will slow down its plan for establishing new power generating stations by 2014.
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Minister of Power, Prof. Barth Nnaji, announced this in his press address after his meeting with the Senior Staff Association of Electricity and Allied Companies (SSAEAC) in Abuja.
The power minister stated that the government expects that by 2014 all the power plants being built under the National Integrated Power Projects (NIPP) to give the nation 4000 MW of generation, would have been completed.
After this, all future power would be built by the private sector, he said.
Nnaji also spoke on the subject of the Power Holding Company of Nigeria (PHCN) and affirmed that, contrary to some reports, this state power monopoly had not been liquidated.
He maintained that in line with the government’s power reform agenda, the company has ceased to exist, but that it has not been liquidated as that could only be done by a court order, which currently has not been executed.
He confirmed that the existing thermal plants of the PHCN would be wholly privatised; hydro would be on concession, while the transmission will be owned by government but managed by the private sector.