Nigeria embraces $4 billion power project by Capital Investment Group

Riverside, Calif., October 7, 2010 — The Nigerian government has embraced Capital Investment Group’s plan to build 4,000 MW of power across Nigeria.

The Nigerian government made the decision at its 27th National Executive Council meeting held September 29, chaired by Vice President Namadi Sambo.

The National Executive Council comprises of all the 36 governors of Nigeria, the governor of the Central Bank of Nigeria and the ministers of the National Planning Commission and Justice.

Babangida Aliyu, the Niger State Governor who briefed journalists at the end of the meeting, said, “The government wants to encourage local and state governments to generate 5-10 MW of power.” The Minister of National Planning, Shamusideen Usman, was quoted as saying, “The council meeting looked at various issues and decided that by the time the power plants becomes operational by 2012, there will be an additional 4,000 MW to the national supply.”

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