The United Arab Emirates has kicked off its investment interest in Nigeria with the establishment of a 300 megawatts renewable energy power plant in Lagos.
This was made known by UAE’s Ambassador to Nigeria, Fahad Obaid Al Taffaq in Abuja when he paid a courtesy visit on the Minister of Power, Sale Mamman.
Al Taffaq informed the minister that the 300MW plant was ready for operation in Lagos and would support power being supplied by the national grid.
He said the plant, which was built by a member of the emirate royal family, Ahmed Al-maktum, has the capacity for expansion within a few months to about 1,000MW.
According to him, the power project was part of the United Arab Emirates investments in Nigeria.
The ambassador, however, requested for the assistance of the minister in securing a generation licence and tariff from the Lagos state government.
Al Taffaq explained that the company had concluded all agreements with Shell for the supply of gas to the plant.
He also informed the minister of the interest of the UAE to invest in electricity transmission and distribution network across Nigeria.
Responding, the power minister said the Federal Government was open to genuine investors, especially in the power sector.
Mamman assured his guests that the Federal Ministry of Power would collaborate with the UAE in its areas of investments in Nigeria.
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