FEDERAL Government has set up a committee to review the lending regime in the country in an effort to ensure that the new investors in the power sector secure working capital at reasonable interest rates.
The Permanent Secretary, Federal Ministry of Power, Dr. Godknows Igali, made this disclosure at the office of the Chairman of the National Council on Privatisiation (NCP), Mohammed Namadi Sambo, during a meeting with the Power Holding Company of Nigeria successor companies in Abuja recently.
Igali added that plans were underway to train and re-train sector operators on market rules in readiness for the declaration of the transition electricity market and that high-level efforts are being made to ensure stability in gas supply to the generation companies.
Sambo commended the winners of PHCN successor companies for their interest and confidence in the Nigerian economy.
He also expressed immense appreciation to the Bureau of Public Enterprises (BPE) and other organs of government that contributed to the success of the power sector reform and privatization, noting that the transactions had been adjudged one of the most transparent in recent history.
Sambo directed all government agencies that had any outstanding approvals or documents connected to the power transaction to ensure that they are signed and delivered before Friday, October 11, 2013.
Culled from The Guardian, 10 Oct. 2013
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