Power sector: Nnaji warns investors to expand investments

The Minister of Power, Prof. Barth Nnaji, has warned that investors in the power sector would soon run out of business if they do not expand their investments. Nnaji, who spoke in Enugu, said it was important investors diversified in their choice of business due to the current transformation programme in the power sector and bring on board qualified hands that would aid the Federal Governments delivery of constant power supply to Nigerians. He said, "I do not think anybody is happy using diesel. What we are encouraging investors to do is to invest in some other aspect of the business so that they do not lose out soon. "They can invest in gas infrastructure. They can invest in switch gears, cables, among other things." Nnajis counterpart at the Ministry of Agriculture, Dr. Akinwunmi Adesina, has also said the FG would end rice importation by 2013.Adesina, said the FGs decision was part of President Goodluck Jonathans transformation programme in the agriculture sector. The minister decried the current importation of 500,000 metric tonnes of brown rice into the country and stated that government was now determined to implement the ban on rice importation. She said, "In order to win this war, one must have a clear battle plan. To succeed, we must not fight battles on all fronts simultaneously. Our first battle is to make Nigeria self-sufficient in rice production within four years. Nigeria currently imports two million metric tonnes of rice and spends over N350bn annually on it."
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