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When Nigeria builds a track record as a trusted counter party, the need for guarantees will be obviated.
As privatisation is new, many developers and most financial institutions will require sovereign guarantees or another instrument that will provide adequate security.
Nigeria is not prepared to issue sovereign guarantees and they are developing other ways of satisfying lenders, such as the inclusion of put and call options in PPAs.
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If you have already purchased this Report or have a website subscription, please login to continue. This article is from the Utilities chapter of The Report: Nigeria Explore other chapters from this report.
All 40 Countries. Nigeria Energy Interview View in online reader. Interview: Paul Hinks How can international firms best leverage the opportunities offered by the Power Africa initiative?
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Leaders of all stripes are scrambling to contain the fallout. Get your free PDF by completing the following form.
Again, Chakwera has strong grounds on which to encourage its growth, with the substantiated rule of law and judicial independence demonstrated during the election enabling him to reach out, realistically, to others with the funds and expertise to rapidly develop this sector.
He has already begun to encourage South African farmers who are under pressure from rising incidents of farm invasions and rule of law in their own country, to look north and consider Malawi.
Yet perhaps the real challenge Chakwera and his new administration face now is looking ahead to the long: how to build a new Malawi that is void of the past and ingrained abuses of power.
In his acceptance speech, the President called for an end to tribal nepotism and corruption. But then so have many when first elected.
Yet he also outlined how he would, immediately, be legislating to reduce the scope of his own presidential powers — as well as instituting by law greater transparency and parliamentary accountability and scrutiny for the executive.