28.8 C
Lagos
Thursday, May 19, 2022

spot_img

Nigeria approves N65.4 bln for 16 power projects

Nigeria federal cabinet on Thursday approved N65.39 billion for 16 electricity projects at an extraordinary meeting.

The extraordinary Federal Executive Council meeting was presided over by Vice President Yemi Osinbajo, where after the meeting the Minister of Power, Abubakar Aliyu, attributed the prevalent unstable power supply in the country to the long years of neglect of infrastructure development in the sector.

Aliyu, who spoke to journalists after the meeting said some of the projects costs are in dollar naira and Euro which were breakdown at N31,360,272,397; $65,606,420 and €15,152,651.

He said it was obvious that government is doing a lot to remedy the poor power supply situation in the country with more investments in the sector, which he said had manifested in the less system collapsed being witnessed in the country.

READ ALSO: Terrorists abduct over 60 people in Police guarded Convoy along Abuja-Kaduna road

Aliyu maintained the present power generation in the country is about 5,000 MW as he decried what he termed the weak transmission grid.

“Today, I presented to council 16 memos, which I seek (for) council’s approval and the council graciously approved all of them. At this point, let me say what these approvals will do to the nation’s electricity supply.

“As we’re all aware, the major problem we’re having in the Electricity Supply Industry is to be able to evacuate sufficient electricity and distribute them. That is to say, we have a very weak transmission grid and distribution segment of the value chain.

“We may not be having much problem with generation. So, unless we’re able to strengthen the electricity grid, which is nationwide, and to expand, and to be able to evacuate, what the grid can take to consumers, we will have a lot of problems ahead of us.

“So, what we’re doing currently through various and several interventions is to be able to repair the grid by constructing new transmission lines, bringing in new equipments to replace the old ones at our substations. So, that will release more capacity to the distribution and leading to the customers.

Latest news
- Advertisement -spot_img
Related news