The International Atomic Energy Agency (IAEA) said Nigeria’s economy will develop on completion of its nuclear energy power plant, which will provide at least 4,000 megawatts (Mw) in the country.
The firm, based in United States, in a study said Nuclear Energy Plant (NPP), which will be located in the eastern and other parts of Nigeria, will provide direct and indirect economic benefits to the citizens.
It said opportunities abound in the areas of manufacturing of materials such as pumps, valves, pipes, tubes, insulating machines, pressure vessels, pressurizers, heat exchangers and others, adding that the idea will boost the economy.
It said: Nuclear Energy Plant will boost the activities of manufacturers of goods by acceding power for production. The construction of nuclear energy plant in India and Czech Republic has created jobs for the countries and Nigeria would not be an exception. Also, tax proceeds from the plant are used to build schools and provide other developmental projects in those countries, and Nigeria is expected to derived similar benefits.
The firm said that nuclear energy plants in Czech Republic provides $6million for the economy annually to develop infrastructure in the country, stressing that Nigeria will get more revenue, in the vent that the plants are built by 2025.
‘’ Construction of nuclear energy plants provides huge benefits to people in countries, where they are built and this is (added value) to those economies. Investing in nuclear projects stimulates cash flows to the regional and national budget that often surpass direct investments by a significant margin. The actual amount of investment depends directly on technologies involved. Nigeria will record similar gains, considering its population of over 170million people. ‘It added.
Source: The Nation
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