The Chief Executive Officer (CEO), of a power generating company, Century Power Generation Limited, Dr. Chukwueloka Umeh, has commended the Federal Government’s efforts so far to deregulate the power sector
He appealed to the government to urgently do more to help check the alarming growth in unemployment rate in the country.
He maintained that once the power industry works and adequate power supply is guaranteed, investors will begin to see the country as an investment destination.
“We must however, understand that the privatisation of power does not guarantee immediate availability of power because it takes at least three years to build a power plant from ground breaking to actual generation.
“Private companies should be encouraged and incentivised to build power plants as well as strengthen transmission and distribution networks knowing that their investments will eventually be recovered through cost reflective tariffs.”