Mr Babatunde Fashola, the Minister of Power, Works and Housing, has described the comment of Mr. Dallas Peavey, Managing Director and Chief Executive Officer of Egbin Power Plant, on the imminent collapse of the nation’s power sector as not in the interest of the nation.
The minister disclosed this on Tuesday at the ongoing 2016 Power Nigeria Conference in Lagos noted that Mr. Peavey’s comment on the power sector is not progressive and not in the national interest.
Recall that Mr. Peavey had earlier said Nigeria might experience total darkness if the government does not wade into the power sector crisis by paying its debt.
He explained that government agencies, police, and army barracks are owing power generation and distribution over N80 billion.
Fashola said Peavey’s comment is capable of discouraging investors.
According to him, “I must comment on the recent statement made by the Egbin MD. Such words are insensitive and not in the national interest because it is capable of sending investors away.”
He assured investors of great opportunities in the Nigerian power sector noting that “I have had talks with investors who are willing to come into Nigeria. And I am particularly encouraged when I heard that about 200 investors from about 17 countries are here today.
He said “I will like to say here that Nigeria is a market that no rational investor can ignore. I am focused on delivering good and fast electricity and investors can be assured that their investments are protected so long as they play by the rules.”
Fashola said the grid is capable of supporting 5,300 megawatts adding that all debts will not be paid until government verifies who owes what and how the debts were accrued, stressing that the government will not pay “illegal debt”.