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AFC Holds Power Sector Roundtable Unleashing IPPs in Nigeria

The Africa Finance Corporation (AFC), hosted a Power sector roundtable, to critically examine the key issues, constraints and practical challenges facing IPPs in Nigeria. Participants included key players and stake holders from both the public and private sectors:- Nigeria Presidential Task Force on Power, AFC, Shell, Chevron, ExxonMobil, ContourGlobal, NAPIMS, Geometric Power, WEMPCO, Shoreline Power and other IPPs. In August 2010, the Federal Government of Nigeria launched the roadmap for power sector reform. The roadmap identified key obstacles to be addressed in order to ensure critical private sector participation in the power sector.

“As a pan-African financing institution, AFC is delighted to be a partner in bridging the power sector deficit in Nigeria,” said Oliver Andrews AFC Director and Chief Coverage Officer. The roundtable is an AFC driven initiative, which seeks to provide a forum for key stakeholders to discuss the practical challenges, identify pragmatic solutions thus unleashing the potential of IPPs in Nigeria, and, addressing the commercial imperatives for effective power generation to drive economic growth.” Prof. Bart Nnaji, Special Adviser to the President on Power and Chairman of the Presidential Task Force on Power noted "Nigeria's area of greatest need today is infrastructure development, specifically power and AFC is well positioned to initiate efforts to bridge the dire infrastructure investment gap in power, address the issues for critical private sector participation in the sector, and, bring about transformational change in power supply in Nigeria”.

Dr. David Aderibigbe, Director Ibafor Power Project Limited said while commending the participation of the various International oil companies, partners, the Presidential Task Force on Power, “AFC brings a combination of technical, institutional, commercial, regional and financial skills necessary for the timely participation of IPPs and delivery of power to the vital sectors of the Nigerian economy.”

The roundtable is the first of several interactive sessions hosted by AFC in 2011 with stakeholders in the power sector. A follow up session with the recently inaugurated Nigerian Electricity Regulatory Commission (NERC) is planned.