SOURCE: Capital Investment Group

October 06, 2010 16:25 ET

Nigerian Government Embraces Capital Investment Group's $4 Billion Power Project

RIVERSIDE, CA--(Marketwire - October 6, 2010) -  The Nigerian government has embraced Capital Investment Group's plan to build 4,000 megawatts of power across Nigeria. The Government made the decision at its 27th National Executive Council meeting held on September 29th, 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.

"Our privately financed $4 billion power plan will create over 40,000 jobs and transfer technology to Nigerians," says Toyin Dawodu.

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."  The 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 becomes operational by 2012, there will be an additional 4000megawatts (mw) to the national supply."

"We are very enthusiastic about this new development," stated Toyin Dawodu, Managing Partner of Capital Investment Group. "This is what we have advocated for the last 6 months. We have communicated with the President several times and we presented our plan to him through his special adviser Professor Nnaji."

In an article written for Next on September 17th 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. "We urge all to join us and invite the states and local governments to contact us by logging on to"

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