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Eta-Zuma group plans $6bn investment in electricity, targets 1,200MW generation

Indications have emerged that the reformed being introduced by the Minister of Power, Housing and Works, Mr. Babatunde Fashola are yielding as a private firm, Eta-Zuma Group West Africa Limited, has announced an investment outlay of $6bn to boost Nigeria’s electricity supply by 1,200 Megawatts.

Chairman of the company, Dr. Innocent Ezuma, made the announcement during a press briefing in Abuja, saying the company had acquired another licence from the Nigerian Electricity Regulatory Agency to generate additional 400MW from gas.

Represented by Executive Director, Corporate Services, Ambassador Joseph Ayalogu, said the 1,200MW would be generated from coal, which the company is already mining in Kogi State.

He also said 90 per cent of the work on the development stages had been completed and expressed confidence that the remaining agreements would be completed before the year runs out to enable the actual construction of the coal power plant to begin.

While explaining that the first phase of the construction for the 400MW plant will take 30 months, Eta-Zuma boss announced a N500m Community Development Fund spread across five years for the benefit of the communities that host the company’s coal mine in Kogi State.