BMI View: It appears that the privatisation of Nigeria’s power sector has gathered momentum in recent months, with President Goodluck Jonathan and his government pressing ahead with plans to sell stateowned power sector assets and attract huge amounts of foreign direct investment. We have long felt that such investment would be needed to support Nigeria’s rapidly growing economy, but remain cautious with regards to the sheer size of the country’s ambitious capacity expansion plans and the timescales that have been outlined for bringing new power infrastructure online. While significant demand for electricity undoubtedly exists, gas shortages, inefficient transmission and distribution …
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