"Nigeria suffers from acute electricity shortages and President Jonathan has made increased power supplies a key part of government policy ahead of national elections scheduled for January. A reform of the power sector will be announced on 26 August, the presidency said. This will include a greater role for private-sector investors. Nigeria has urged its main upstream partners, such as Shell and Chevron, to increase gas supplies to the domestic market to increase power generation capacity. Most of the country's gas is supplied to the 22m tonnes/year Nigeria LNG plant on Bonny island or flared off."
This news is important for several reasons. First off, it serves as an excellent example of developing nations realizing that in order to prosper, major changes need to be implemented regarding power generation in order to facilitate the country's rapid expansion as new technologies become available to them. Secondly, this is an incredible opportunity for power generation investors to get in on the ground floor of a potential emerging world power. Finally, this news is important because it shows that the power generation industry is not something that can be affected by the now world-wide recession, even in developing nations. There are evidently good things on the horizon for those of us in the power generation industry.
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