The director-general of the Bureau of Public Enterprise (BPE), Mr Benjamin Dikki, has disclosed that the privatisation of the power sector would usher in a minimum investment inflow of $9.3 billion into the economy within the next five years.
Dikki stated this yesterday in Abuja while presenting a keynote address at the induction ceremony of the 2013/2014 trainees at the National Power Training Institute of Nigeria’s Graduate Skills Development Programme (NGSDP).
The NGSDP is a federal government capacity building programme developed through NAPTIN for fresh engineers seeking career prospects in the power sector, the certification is compulsory to gain employment in the sector.
Dikki explained that the generation companies were contractually obligated to increase generation capacity by 5,000mw in five years, which will require investment of $7.5 billion.
Similarly, he said, the distribution companies were obligated to reduce aggregate technical and commercial losses that will require investment of about $1.8 billion in five years, resulting in a minimum investment of $9.3 billion within the period.
Giving an overview of the NGSDP, director-general of NAPTIN, Mr Reuben Okeke, said a total of 308 trainees comprising of 291 males and 17 females were admitted into the session, while lamenting the poor response by some state governors to sponsor their indigenes to the programme, without which fresh graduate engineers cannot get employment in the power sector of the 36 states, only Anambra, Benue, Cross River, Ebonyi, Gombe, Kaduna, Kano, Kogi, Kwara, Niger, Plateau, Sokoto and Zamfara state governments sponsored their indigenes to the programme, while candidates from some states sponsored themselves to the N750,000 one year training programme.
In his remarks, managing director of the Niger Delta Power Holding Company Ltd (NDPHC), Mr James Olotu, who emphasised the employment opportunities in the power sector said the three tiers of government have agreed that part of proceeds from the sale of the 10 NIPPs will be reinvested in six hydro projects with joint capacity of 6,000mw.