Business

Minister of Power Secures Commitment for Establishment of Industrial Park

The Minister of Power, Joseph Tegbe has secured a commitment from leading Chinese equipment

Manufacturer, TBEA, to establish a power and energy equipment industrial park in Nigeria.

The commitment was made during a high-level meeting at TBEA’s Beijing headquarters, part of a working visit to engage original equipment manufacturers and technical partners of the Presidential Power Initiative.

These were contained in a statement on Sunday.

According to the statement, the proposed park would position Nigeria as a manufacturing and export hub for critical power-sector equipment, moving the country beyond imports toward local production, while creating jobs and building a base of indigenous suppliers.

Beget described TBEA as a long-term strategic development partner rather than simply a contractor, and reaffirmed the Federal Government’s drive to attract investors who bring technology transfer and local capacity alongside capital.

The statement added that alongside the new park, TBEA renewed its commitment to accelerate delivery of ongoing transmission and distribution projects across the country, including works expected to unlock more than 2,000MW of stranded capacity for consumers and strengthen bulk power supply to the Federal Capital Territory.

It added that Tegbe pressed for faster completion of Presidential Power Initiative works and urged an extension of planned grid infrastructure to the East-West corridor, underscoring government’s insistence that contracted and substantially developed projects be brought to completion so Nigerians can begin realizing their benefit.

According to the statement, the engagement also explored the feasibility of electric-vehicle charging infrastructure in Nigeria, opening a new front for investment as the country’s grid modernizes around renewable energy and storage technologies.

According to it, the outcomes from Beijing reflect a broader shift underway in Nigeria’s power sector: from a market that imports equipment to one that builds it, from stranded capacity to power that reaches homes and industries, and from short-term contracts to lasting partnership.

For Nigeria, the pursuit is simple but urgent; a power sector that is capable of supporting industrialization and sustained economic growth.

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