US Based Firm to Raise $10 Billion for 10,000 Megawatts Power Project for Nigeria
Capital Investment today announced plans to raise $10 Billion to build up to 10,000 power projects in Nigeria.
A 10,000 MW power project will add at least 30-40% to Nigeria's GDP, create up to 5 million direct and indirect jobs and increase the financial well being of millions of Nigerians, says, Toyin Dawodu, Managing Partner of Capital Investment Group. “It will also help position Nigeria as a destination for other investments that are looking to tap the vast consumer market of Nigeria,” says Toyin.
Nigeria, a country of 170 million people currently generates less than 5,000 MW of electricity. 10,000MW is a drop in the bucket towards Nigeria's power needs of at least 170,000 MW over the next 5-10 years. The potential market for power generation in Nigeria is over $100 billion.
In addition to raising this equity capital, Capital Investment Group also plans to tap and leverage the $7 Billion funding provided by President Obama for Power development initiatives in Africa.
"The people of Nigeria want 24/7 electricity, Nigerian business owners need 24/7 electricity, and the investment and infrastructure world will benefit from the massive project in terms of creating work and tremendous returns on investment,” stated Toyin Dawodu, Managing Partner of Capital Investment Group, the major driver of the project.
Nigeria, "the pride of Africa" with a population of 170 million people is in virtual darkness. For the last fifteen years, the people of Nigeria have not had more than 4,000 MW of power and many times, power generation drops down to less than 1,200 MW.
This situation has brought untold misery to the people of Nigeria, both rich and poor. Successive previous governments have failed at every turn in addressing this misery.
With a new government in place, Capital Investment Group believes the time has come to try once again to engage the government in a partnership that will finally bring 24/7 electricity to the people of Nigeria.
In 2010, Toyin Dawodu, crystallized his dream of building up to 4,000 MW of power for the Nigerian people. This plan was initially endorsed by the former President Jonathan
, but the project was postponed due to the privatization plan of the government.
It's five years later and the dream has gotten bigger. The demands for electricity in Nigeria continues to grow.
There is a new Government in place. The people of Nigeria are suffering, and the financial and infrastructure world can't wait to provide the necessary solution.
Today, the average Nigerian generates his own electricity with the use of individually operated small to medium sized petrol or diesel powered generator.
The cost of this generation at 40-65 cents per kilowatt hour, is 50-70% higher than in most countries. There are more than 60 million small power generators in Nigeria generating almost 60,000 MW of electricity.
Capital Investment Power Solution
Capital Investment Group, with its technical and financial partners will build and deliver a minimum of 10,000 Megawatts of distributed energy over the next five years.
According to Toyin Dawodu, “The money and the structure to accomplish this huge undertaken has been in the works for over six years. The world is awash in money and infrastructure funds are looking for viable investments. The Nigerian people are more than ready, and the only equation that needs to be plugged in is the cooperation of the Nigerian government, and we believe the New Government of President Buhari will embrace this initiative and give us his full support. We are not seeking government funds, we only want the Nigerian Government’s support,” added Toyin.
All the funding will come from private sources both and majority of the funding will be sourced from the US and European Private Equity and hedge funds.
This project presents an opportunity for Nigeria, the financial and infrastructure world to come together and unleash a developmental project that can create huge opportunities for every forward looking investor and infrastructure company.
For more information to participate in funding or providing technical tender for each of the mega projects, please contact our office for complete details including our white paper on powering Nigeria.
According to Toyin, “Since power generation in Nigeria is no longer be the exclusive purview of the Federal government in Nigeria, both state and local governments are encouraged to seek immediate partnership on this initiative in order to move their communities forward.”
Their first objective is to immediately help each state and local Government to power all their strategic institutions, specifically hospitals, schools and water treatment plants.
It is unfortunate that in this 21st Century, 95% of Nigerian students have to attend school and study in darkness with flash lights and candles.
Individual professionals, especially Nigerians in Diaspora interested in employment opportunities can email their resumes direct to our company.