Oil & Gas

Remove power sector from exclusive list, investor advises



Izomor made disclosed this after a facility tour of MG Vowgas Fabrication yard in Port Harcourt to mark the end of the 2019 Practical Nigeria Content Forum.

The Nigeria News Agency reports that MG Vowgas is an Indigenous fabrication company dealing in Engineering, Procurement, Construction and Installation (EPCI) servicing the oil and gas and marine sectors of the economy.

He said that there was an urgent need to unbundle the nation’s power sector for improved power supply to drive businesses.

He noted that if there was regular power supply, many businesses would thrive and jobs created for the huge youth population.

“The first thing the government of Nigeria should do is to remove power sector from the exclusive list for local companies to start investing in different localities.

“When the power generation is removed from the exclusive list, you will see investors taking every aspect of the country.

“You will see investors coming. Nigeria is a huge country and a huge economy that anybody is ready to invest and power is one of the key areas.

“Nigeria must unlock the power sector for investors to come. If they did not unlock NITEL, nobody would have had GSM up till now.

“So, we have to break the power sector for businessmen to come in to invest. That is the only way we can achieve power generation in Nigeria.

“If anybody tells you that you have to award contracts for transmission lines and power generation that Nigeria will get power in the next 20 years, it is a lie,” he said .

He said that government must create enabling environment for investors to come into the country to invest.

According to him, with enabling environment, businesses will thrive, economy will grow, revenue generation will increase and jobs will be available for all.

Izomor said that his company spent so much to fund six megawatt of power to power the fabrication yard.

He said if there was adequate power supply, the money could be invested in other areas that would help boost the economy.

“ If we have a standard generating system in Nigeria, the money I am spending in providing power to run this place would have been part of the money we would have used to create jobs for the economy,” Izomor noted.

He said that MG Vowgas was collaborating with Schneider Electric, a French multinational corporation specialising in electrical equipment, to support power generation in the fabrication yard.

Izimor reiterated the need for government to encourage the private sector to invest in power generation.

Edited by: Chukwudi Ekezie


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