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Government signs Nigerian power sector pact with Turkish company

Government signs Nigerian power sector pact with Turkish company
The Federal Government has signed a Nigerian power sector pact with KOZTEK Electric and Energy Technologies, a company based in Turkey, to build power generation and transmission infrastructure in the country.
Professor Chinedu Nebo, The Minister of Power, who signed the Memorandum of Understanding (MoU) in Abuja with the Turkish company, according to a statement issued by the Ministry.
The projects covered by the MoU would involve building of power generation and transmission infrastructure in Nigeria, wholly financed by Turkish business interests.
The report said that the Turkish company has agreed to execute projects in Nigeria in accordance with specifications and timelines to ensure that projects are completed on schedule.
“KOZTEK has also agreed to provide adequate training for the workforce and strict adherence to the Nigerian local content provided as this will guarantee skilled manpower for the smooth running of the plants on completion,” according to the Minister of Power, who was represented at the occasion by Dr Godknows Igali, the Permanent Secretary in the Ministry.
The Minister also expressed delight that Annie Okonkwo, a Nigerian Senator with record of achievements has finally found an active role in the power sector.
Nebo asked KOZTEK to bring to bear the home country’s expertise in hydro, switchgears and transmission systems, which were built on European technology “but made available because of low wage structures in Turkey.”
The Minister acknowledged the obvious challenges faced in the sector and expressed the determination of the present administration to move the country to the top, among the comity of nations.
The Government has provided a level playing field for investors, both national and international to explore diverse areas like: expansion and modernization of facilities, metering, gas utilization, solar and other renewable, according to the Minister who outlined the enormous potentials that are available in the sector,
“Our plan is to link to the national grid all communities; hence we are desirous to open windows of opportunities for private funds into the transmission segment, ” he added.
According to him, “Government has agreed to provide incentives in the form of duty waivers, rebate and tax holidays on power plant equipment and installation. All these are to soften the ground for investors.”
On his part, Annie Okonkwo, Chairman of KOZTEK in Nigeria, said that the signing of the MoU is an indication of the commitment of the President to improving power supply in Nigeria.
Soon the problem of epileptic supply of power will be a thing of the past, as the whole world will celebrate efficient power in Nigeria, he said.
Kerem Ozdemi, CEO of KOZTEK, said that his company has been an interested follower of the happenings in Nigeria’s power sector in the past 10 years while promising to be a co-partner towards ensuring improved supply of power in the near future.
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