FG to spend N15bn to achieve 8,000 megawatts electricity generation by 2016
Power Plant
Dr Atiku Abubakar, Deputy Managing Director, Transmission Company of Nigeria (TCN), on Tuesday said about N15 billion was required for the nation to generate 8,000 megawatts of electricity by 2016.
Abubakar made this known during inspection of some ongoing electricity projects at the sidelines of a training programme for auditors in Lagos.
He disclosed that electricity generation in the country recently improved and attributed it to improved gas supply to generating stations.
According to him, we have been able to reach the highest peak so far in July of about 4,652 megawatts while the transmission capacity remains a little above the power generated so far.
He said that contrary to other opinions, TCN had the capacity to transmit about 5,300 megawatts of electricity.
‘’As generation is improving, we are expected to expand transmission capacity to be able to evacuate all that is being generated in the stations for distribution.
“l can assured that we have our plans, targeting projects that are very critical which have been mapped out so that within the shortest possible time, will be able to hit 8,000 megawatts transmission capacity by end of 2016,’’ he said..
Abubakar said that interested investors who were willing to invest in the transmission segment had been shortlisted, adding that over 30 investors that could deliver on project had been chosen.
He said that he would not disclosed the names of the investors now, adding that ‘’we are trying to see that they are capable both technically and financially, because it is expected that they will fund the project’’.
“Presently, we are in the process of coming up with the frame work which will enable them to recover their investment in time.
“Since Federal Government will not give them sovereign guarantee, we are coming up with modalities of repayment from our billing charges and internally generated revenue for over a period of time,’’ Abubakar said.
Related
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.
3 Comments
Nigeria needs close to 20000 megawatts and this guy’s are talking of only 8k
I commend TCN, I urge them to do more and also work toward 20,000 to 40,000 megawatt, so as to guarantee electricity for all homes and offices in Nigeria including rural areas. So let FG invest more to build more power plants and complete the ones started by the last administration. God bless Nigeria.
Power supply or more accurately, the relentless lack of poer supply in our country is as much an emmergency as insecurity. It is as serious as that. BokoHaram has been able to hide under cover of darkness to inflict pain, devastation and death on our defenceless men women and children in a region (mianly) of our nation. With power availability, these criminals will have little but to come visibly and we can then piuck them off. With power availability our industrious children can set up little enterprises and provide for themselves and their families. The youth will be able to have fully functioning youth clubs where they can learn from their peers and be mentored into menaingful lives. It is simply but as devastatingly urgent as that. The news that full attention will be devoted to this emmergency is most welcomed. My youngest brother is currently here with us in the UK on restful holiday and only wish from the administration is for meaningful and sustained power to help with the bulging and emerging class of fearless entrepreneurs in our cummunities at home. He is a proprietor of mixed range institute and would love to set up an evening and night sports accademy if only he could have sustained power. Hitherot, his only recourse is the ever noisy generators which are blighting lives night and day. We can do better than have billions of generators. If Buhari could deliver on power, he can be assured fromthis distance, of continued support by the genral public and one can dare suggest that with that single achievement, our vibrant youth can be expected to chose meaningful life of small enterprises than seek shelter in the certainty falsely provided by the murderous cults of Niger Delta and BokoHaram militancies. The devil finds solace and comfort with the idle. PS, I don’t believe in any mithical devil – humans are the devils.
We will review and take appropriate action.