2 November 2004 - The Nigerian government is inviting investors to participate in the privatization of its power sector.
Julius Bala, director general of Nigeria's Bureau of Public Enterprises (BPE) said of the process, "Core private sector operators are needed to enable the country to generate electricity equal to its growing population and level of economic activities."
The move sees Nigeria liberalize activities in its power sector, which has until now operated under the state owned National Electric Power Authority (NEPA).
Bala said that private sector investment would take the form of either setting up power plants or power distribution companies or buying equity in NEPA.
A law guarding investors is expected before privatization commences in the first quarter of 2005 and a commission will be set up to regulate the industry.