The Federal Government and US Yeffet Mesika Group on Monday signed a Memorandum of Understanding for the construction of a gas-fired power plant in the country.
The Minister of State for Power, Alhaji Wakil Muhammad, who signed the MoU on behalf of the Federal Government with the five-member delegation from US in Abuja, described the agreement as “timely”.
Muhammad said the agreement was made possible by the “determination and doggedness” of its facilitator, Team Africa.
“Team Africa is known to talk less but does more of action,” he said, adding: “Their belief in our nation’s potentials has underscored the reliability of Team Africa to deliver on the proposed power project.”
He said the ministry had understanding with the Bayelsa State Government where the proposed plant would be located.
The minister said the plant would have ancillary transmission line facilities that would make up the turnkey project.
Muhammad said that when realised, the project would make the attainment of the government’s target of greater access to quality electricity by Nigerians achievable in no distant future.
The Director of Legal Services in the ministry, Adetutu Soetan, said that acquisition of project site and discussion with the regulatory agencies would be sorted out by government officials and the American group.
Soetan said the project would be funded wholly by the American investors, adding that they would also provide technical competencies for it.
Earlier, the leader of the delegation, Ron Yeferez, said the MoU was the foundation for the development of power projects and transmission lines in Nigeria.
Yeferez expressed optimism that the project would contribute to the attainment of uninterrupted power supply in the country.
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