Nigerian President Goodluck Jonathan announced on Tuesday a new state company that will guarantee to pay for power generated in Africa's most populous nation, potentially opening the way for billions of dollars of investment.
Nigeria has the world's seventh-largest natural gas reserves, yet is blighted by persistent electricity outages which force businesses and individuals who can afford them to rely on diesel generators.
furthermore, "Bulk Trader" to ensure payment for power produced
* World Bank to provide partial risk guarantee
* Okonjo-Iweala heads company board, broadens scope (Adds quotes, detail, background)
We pray it works this time. We welcome continuous power supply without failure in Nigeria.
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