Date Published: 10/05/10
Capital Investment Group
Capital Investment Group
Contact: Toyin Dawodu
For Immediate Release
Nigerian Government Embraces Capital Investment Group’s Plan to Build 4,000 Megawatts of Power
Riverside, CA- The Nigerian government has embraced Capital Investment Group’s plan to build 4,000 megawatts of power across Nigeria. The Federal Government of Nigeria made this decision at its 27 thNational Executive Council meeting held on September 29 th 2010, chaired by the 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 megawatts of power.” T he 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 become operational by 2012, there will be an additional 4000megawatts (mw) to the national supply.”
“We are glad with this new development,” stated Toyin Dawodu, Managing Partner of Capital Investment Group. “This is the specific plan we have been advocating for the last six months, and we finally got a chance to present it to the president through his special adviser Professor Nnaji at a meeting in New York when he came to attend the last UN Assembly Conference.”
In an article written for Next on September 17 th 2010, Toyin Dawodu stated, “We plan to use distributive generation to provide power across Nigeria faster than it is currently being done, by focusing on simultaneous build out in each state. It is a lot easier and faster to build 10 megawatts of power in one locality than it is to build one power plant of 1,000 megawatts. So, if each local government concentrates on building 5 to 10 megawatts, it is even possible to deliver our 4,000 megawatts in less than a year.”
“That is why we have not relented in our efforts to exert pressure on the presidency, both in public and in private, including setting up our own Facebook page, and blogs to collect signatures from Nigerians and friends of Nigerians.” says Dawodu.
Over the last six months, Mr. Dawodu has had several correspondences with President Jonathan, and several state governors. With the approval of the Federal Government, the state governors are now free to provide electricity to their citizens. “Therefore, we urge the state and local authorities to contact us immediately so we can begin talks on where they want their 5-10 megawatts plants located,” says Dawodu.
With a total cost of almost $4 billion, Capital Investment Group’s plan to finance and build its 4,000 megawatts of power plants for Nigerians has three components:
- Build 4,000 watts of power for Nigerians
- Create up to 40,000 jobs for Nigerians
- Transfer technology to Nigerians.
Given the above objectives, Capital Investment Group would like to invite all Nigerians to join hands with them to resolve the chronic power shortage of Nigeria. Please visit their website www.capvestgroup.com for more information if you would like to be part of the solution.