Investors may have started reaching positively to calls for diversification of Nigeria's energy source, currently being dominated by hydro and gas power resources.

The most recent is Western Goldfields (WGF) Limited, an Abuja-based company, which has concluded plans to invest about $6 billion (N882 billion) to generate 2,500 megawatts of electricity in the coming years, from coal.

The firm is working with Energy and Metals Industries Limited (EMI) to form a group called Western Goldfields Group of Companies (WGGC), and a team of Russian and Ukrainian companies to actualise this project.

Officials of the firm told newsmen at the weekend that it would generate the power mostly from coal to prove that Nigeria's abundant coal reserves could be put to good use.

Chairman of the company, Mr. Philip Pereira disclosed that three plants would be built in all. The three coal plants are to be built in Kogi, Benue and Enugu. Each is expected to generate 2500 MW.

Pereira stressed that the firm's team of mining engineers would mobilise into the fields this month to achieve its target.

He said: "The whole exploration project is taking a minimum of $50 million, and this is for the coal exploration alone. Don't forget that the power people will be coming in. The first power station of 2,500 megawatts should be costing us probably $6 billion. This is because there are no infrastructures on ground in the country."

He explained that the first 2,500 megawatts of coal-power electricity would become operational in four years' time. Additional 500 megawatts is expected to be added every four month.

He added: "The issue is coal, and this coal has to be quantified before one starts talking about power stations. The truth is that there are no proven reserves of coal in Nigeria."