By Etuka Sunday
Minister of Power, Prof. Chinedu Nebo, has re-assured Nigerians that plans are on the way for the power supply to be increased by 10, 000MW through solar power for the next 10 years, as HQMC, Korean Company Limited is set to inject $30 billion into the sector.
The Ministry, in a statement, said that the Memorandum of Understanding (MoU) with the HQMC, Korea Company Limited, was signed in Abuja at the weekend, with the Minister, stating that the addition, no doubt is a laudable effort, describing it as truly visionary, which is in line with the President Goodluck Jonathan's Transformation Agenda.
According to him, "the addition of 1,000 megawatts of solar power yearly for the next 10 years will give the nation the required energy mix needed for sustainable development.
"This scenario will also enable spread of power across the country and Nigerians even in the rural areas will benefit immensely from the proposed project.
"Korea is a top ranking technologically advanced economy and undertaking projects of this magnitude will provide Nigerians with job opportunities and skill acquisition that will positively impact on our youth.
"So, Nigeria as an emerging economy is set to provide the best market for direct foreign investment especially in the power sector."
Nebo expressed optimism that his Ministry will continue to create more avenues for foreign investment and participation, so as to ensure the desired turn around in the fortunes of the power sector.
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