The minister, Power, Works and Housing, Babatunde Raji Fashola, has advised prospective investors in the ministry to always ensure that they followed due process in going about their investments, assuring them of security of their businesses.
The minister stated this when a delegation from the Nigerian Investment Promotion Commission(NIPC), led by the acting executive secretary/CEO, Hajia Ladi Katagun, paid him a courtesy call in his office in Abuja, yesterday.
The minster, who made it clear that ever since the deregulation of the power sector, the role of government in the sector has largely been regulatory, said that any intending investor must go through relevant agencies under the ministry and ensure that all the requirements were met for them to go into operation, adding that government would not tolerate any breach of process.
He said the government was aware that investors had to make profit, but that doing that at the expense of consumers would not be tolerated at all.
“We are in receipt of all sorts of power ideas on a daily basis, both tested and untested. But I think it is important to reiterate the fact that government’s role in power development now is largely regulatory. There are government companies that handle the various aspects of transmission and distribution such as the TCN, DISCOs and others. Those who are interested in building transmission lines, for example, should sort out with TCN first, while those who want to supply meters should contact the DISCOs. And when there is problem, we will come in to ensure that no one is cheated,” he explained.
The minister urged contractors to have respect for contracts, as according to him, it was important that when administrations change, it should not be seen as an opportunity for “capricious cancellation of projects.”
Speaking earlier, the leader of the team, Katagun, who appreciated the efforts of the government in turning around things for the sector, said they were on the visit to get all the required information on power and seek ways of collaborating and building a synergy that would fast-track development in the sector.