NIGERIA-BRAZIL ENERGY COOPERATION WORKING GROUP INAUGURATED

Nigeria has inaugurated, on Monday, 30th August, 2010, a Joint Nigeria-Brazil Energy Cooperation Working Group. The Vice-President of Nigeria, Alhaji Namadi Sambo, stressed the importance of the event, noting that it was part of the policy of the present administration to develop the key sectors of the Nigerian economy. He stated that for Nigeria to attain its Vision 2020, adequate infrastructure must be put in place noting that, as the Federal Government sought to accelerate the development of hydro-energy potential in Nigeria, exploring synergies with Brazil was a welcome idea.

Nigeria's cooperation with Brazil in the energy sector has comparative advantages in a variety of areas, including hydro-power generation, renewable energy and deep water exploration. The Vice-President further noted that bilateral agreements in the past had suffered delays due to lack of proper coordination and said that a technical team to proceed to Brazil would soon be raised to express Nigeria's determination to ensure the success of the Joint Cooperation Working Group.

Brazil has also indicated interest in partnering Nigeria to ensure an accelerated completion of the Zungeru Hydro-Power Plant and the powering of the Mambilla Hydro-Power Plant has also been incorporated into the Joint Agreement on Energy, which Brazil is willing to bankroll from inception, on a turnkey basis. The three main areas covered by the agreement include oil and gas, bio-fuels and power capacity building. The Nigeria-Brazil Energy Cooperation Agreement was signed in July, 2009. The members of the Joint Working Group on the Energy Agreement include the Ministries of Power, Petroleum, Finance, Water Resources, Environment, the Nigeria Energy Commission, Nigeria National Petroleum Corporation (NNPC) and the National Electricity Regulatory Commission.