FG in talks with Russian firm for nuclear power plants

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The Federal Government is in talks with Russia’s state-owned Rosatom to build nuclear power plants, as Africa’s most populous nation tries to end of decades of blackouts that has blighted the Nigerian economy, according to a report by Reuters.

Africa’s biggest economy has no experience in developing and operating nuclear power plants but has a gamma facility and small reactors producing around 30 kilowatts for research, Franklin Erepamo Osaisai, chief executive of the Nigeria Atomic Energy Commission said on its website, adding that nuclear power will guarantee long-term energy supply.

“We have an intergovernmental agreement with Nigeria, but no concrete decisions have been made,” a Rosatom spokesman said.

One nuclear power plant costs between $5 billion to $8 billion, a source at the company said. 80 percent of Nigeria’s power plants are gas-fired.

Nigeria broke up its monopoly on power generation and distribution by privatising the sector two-years ago, hoping to attract foreign investors. But the amount of power produced has stagnated at around half total capacity.