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Nigerian president to commission IPP

9 March 2005 – Nigeria’s president, Olusegun Obasanjo, will personally attend the commissioning of an independent power project in Delta State to commend AGIP Oil Company for completing the project.

The president said in a meeting with the company: “You have shown corporate social responsibility and other oil company’s should follow your lead.” President Obasanjo went on to assure AGIP that the government would guarantee that the company would be paid for the electricity it provided.

The $471m independent power project in Opkai was originally intended to have a capacity of 330 MW but this was revised to 480 MW as construction began in September 2003.

The federal government has strived to encourage independent power production and the president is expected to sign the Power Sector Reform bill into law in the near future. Nigeria’s government has previously expressed concern at the lack of independent power project development by the oil companies that operate in the country.