The Nigerian Society of Engineers (NSE) has asked the Nigerian government to give competent local technical professionals the choice of first refusal as core investors in the upcoming privatization of the country’s power sector.

Olafemi Olanivan, chairman of the Nigerian Institute of Electrical and Electronic Engineers, said on behalf of the NSE, that the privatization process should take into consideration the “essence of Nigerian Content Development”.

“It must be made mandatory for core investors to demonstrate Nigerian content within the entire company structure, including equity participation,” he said.

“The benefits will include employment generation, cheaper electricity and real capacity and entrepreneurship development of our expertise in the power sector.”

The NSE recommended that in the coming bids for power generation, transmission, and distribution assets, all bidders must be required to incorporate in Nigeria and to submit a seven-year Nigerian Content Development Plan.

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