The United States Government’s Power Africa Initiative has commended the Federal Government for the successful hand over of the power companies to the private sector, the Guardian newspaper reports.
We brought you a story here that the US government announced a grant of $7 billion Dollars to assist a certain number of African countries including Nigeria to develop their power sector.
The announcement was made by President Barack Obama in South Africa during his recent visit to the continent.
The US Chargé d’Affaires, Maria Brewer, said that “the United States Government is proud to have contributed to this historic handover of power companies to the private sector and congratulates the Government of Nigeria (GON) on achieving a very important milestone in the liberalisation of the power sector.”
According to the statement, issued by the Public Affairs of the US Diplomatic Mission to Nigeria, the comments were made in response to the Presidential handover of the licenses and share certificates to the new owners of the PHCN successor generation and distribution companies.
USAID Mission Director Michael Harvey said “the U.S. will continue to partner with Nigeria to advance a seamless transition from public to private sector management of the power sector to ensure that the Nigerian people have access to electricity.”
The statement said that the U.S. supports the achievement and encourages the Nigeria to sustain progress in the sector by addressing such critical needs as adequate transmission, gas availability, and a cost reflective tariff.
“Power Africa brings to bear a wide range of U.S. tools to support investment in Africa’s energy sector, including policy and regulatory best practices, pre-feasibility support, capacity building, long-term financing, political insurance, guarantees, credit enhancements and technical assistance.
Power Africa also provides coordinated support to help African partners expand their energy generation, transmission, and distribution capacity and access”, it added.