The federal government has disclosed that the proceed it would realise from the privatisation of the ongoing 10 national integrated power projects consisting of generation plants would be reinvested into building 10 new hydro dams to generate additional 6000 megawatts electricity to the national grid.

Speaking at the 2nd induction ceremony of participants of the NAPTIN Graduate Skills Development Programme (NGSDP), Managing Director, Niger Delta Power Holding Company, Mr James Olotu said, “we are already in the path of privatising the power generation plants that we are building which will require all of you to man those positions that are going to be opened.”
While describing the inductees as a unique group of people in the power sector and government’s effort to create more power sector jobs, he said, “the money that we are going to get from this privatisation as our shareholders and the bulk traders has approved, that all that money be reinvested in power.”
“We are going to be doing about 10 power plants in hydro, we are collaborating with the Ministry of Power, the Ministry of Water Resources and other agencies that are relevant to ensure that we put in a power of 6000mw or more,” he said.

[Daily Trust]