Federal government approves a N26 billion, $286 million, and €9 million project to improve power supply

The federal government has approved all 16 power memos presented by Minister of Power Abubakar Aliyu in order to significantly increase the power supply.

After yesterday’s extraordinary Federal Executive Council meeting, which was presided over by Vice President Yemi Osinbajo in the State House Council Chambers, the minister revealed this to State House correspondents.

Some of the project costs are in dollars and nairas, euros and nairas, and only nairas. $65,606,420, €15,152,651, and N31,360,272,397, respectively, are the costs.

Aliyu stated the following about the memo he presented: “Today, I presented 16 memos to council for their approval, and the council graciously approved all of them. Let me explain what these approvals will mean for the country’s electricity supply.” As we all know, the main issue we face in the electricity supply industry is the ability to evacuate and distribute enough electricity. That is to say, the transmission grid and distribution segment of the value chain are both very weak.

“We may not have much of a generational problem. So, unless we can strengthen the electricity grid, which is nationwide, and expand, and be able to evacuate, what the grid can take to consumers, we’re in for a lot of trouble.

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“So, what we’re doing now, through a variety of interventions, is repairing the grid by building new transmission lines and bringing in new equipment to replace old equipment at our substations. As a result, more capacity will be available for distribution and customers.

“As you all know, the operational capacity and transmission and distribution capacity are both hovering around 5,000 megawatts.”