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SkipperSeil to invest $1.6 billion in 2,000MW power plants in Northern Nigeria

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SkipperSeil Limited, a company headquartered in India that specializes in manufacturing substation equipment and has extended its reach into power transmission, distribution, and generation across more than 50 countries, has made a significant commitment. They have expressed their intent to invest a substantial sum of $1.6 billion in power generation projects in Northern Nigeria. This decision comes in the wake of a meeting between President Tinubu and potential investors on Wednesday, September 6, 2023.

The Tinubu Media Center conveyed this development through their official Twitter account, sharing the following statement:

  • “The Founding President of SkipperSeil Limited, Mr. Jitender Sachdeva announced that, following President Bola Tinubu’s personal intervention, he is investing $1.6 billion U.S. dollars in the establishment of twenty 100MW power generation plants across the states of Northern Nigeria, amounting to 2,000MW of new power within the next four years.”

The Backstory

President Bola Ahmed Tinubu is currently in India for the G-20 Leaders Summit in New Delhi, India. In a September 3 statement from Ajuri Ngelale, the President’s Special Adviser on Media and Publicity, it was revealed that during his visit, President Tinubu will participate in and deliver keynote addresses at both the Nigeria-India Presidential Roundtable and the Nigeria-India Business Conference.

According to Ngelale, the CEO Roundtable would be attended by leading industrialists in the Indian private sector, Nigerian industrialists, as well as senior government officials from both countries.

Tinubu’s singular focus – Investments

The statement also highlighted investments as a part of the president’s plans for both meetings.

The statement said that the President aims to leverage the platform to attract global capital and promote increased foreign direct investments in key labour-intensive sectors of Nigeria’s economy for job creation and revenue expansion. A part of the statement read:

  • “He will use this opportunity to highlight Nigeria’s attractiveness as an investment destination, specifically outlining his cross-sectoral reform plan as encapsulated by the Renewed Hope Agenda. 
  • “Given the President’s renowned experience in attracting investment to Lagos State, leading industrialists have sought separate private engagements with him at the summit.
  • “The President’s itinerary will also feature bilateral meetings with a cross-section of world leaders from four different continents, representing both G-20 and non–G20 countries. These engagements are geared towards strengthening bilateral economic, trade, and investment partnerships for mutual benefit.”

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