AfDB Funding Available to Coal Power Plant Investors – Minister

MINISTER for Mines and Steel Development, Dr. Kayode Fayemi, has raised hope of establishing a coal power generating plant in Enugu State in President Muhammadu Buhari’s administration.

Fayemi disclosed that already three coal power generating plants had been established in Kogi, Gombe and Sokoto states through private sector initiatives, adding that establishing a similar one through coals mined in Enugu is in the offing.

Fayemi spoke, yesterday, in a meeting with mining and steel sector stakeholders shortly after he visited the abandoned Onyeama and Okpara coal mines in Enugu.

He said it was partly pursuant to the objective that brought him to Enugu, noting that it won’t be long before the Enugu coal generating power plant is established.

Fayemi said: “Nigeria’s roadmap, even from the previous administration, is that at least 30 percent of our power generation should come from coal and we are pursuing that.

“Our priority is to see that coal to power production is achieved and some companies, like Lafarge and Dangote, have set up coal power plants in Gombe and Kogi states while another one is coming up in Sokoto.”

The minister also noted that the federal government is seeking the partnership of state governments in mining activities same as the private sector, which he noted the federal government requires more collaboration with.

“We have also extended the derivation principle same as obtained in Oil and Gas industry to Mining and solid minerals,” said Fayemi.

____

He hinted that the Ministry and that of Power were collaborating on the coal projects which he disclosed is expected to account for 30 percent of the country’s energy mix. He stated that the AfDB funding would be made available to investors who can set up coal power plants that generate as much as 500 megawatts as well as those who can set up modular plants.

 

Source: Vanguard , ThisDay

DutchEnglishFrenchGermanItalianPortugueseRussianSpanish