President Bola Tinubu and German Chancellor, Olaf Scholz on Friday witnessed signing of an agreement targeted at expediting the implementation of the Presidential Power Initiative (PPI) to improve electricity supply in Nigeria.
The accelerated performance agreement was signed on Friday at the ongoing COP28 climate summit in Dubai, United Arab Emirates, by Mr. Kenny Anuwe, the Managing Director and CEO of FGN Power Company, and Ms. Nadja Haakansson, Siemens Energy’s Senior Vice President and Managing Director for Africa.
A statement issued by the presidential spokesman, Ajuri Ngelale explained that the agreement will see to the end-to-end modernization and expansion of Nigeria’s electric power transmission grid with the full supply, delivery and installation of Siemens-manufactured equipment under the timeline of 18 to 24 months.
Also, the agreement is aimed at ensuring project sustainability and maintenance with full technology transfer and training for Nigerian engineers at the Transmission Company of Nigeria (TCN).
In his remarks, the Managing Director of the FGN Power Company, Mr. Kenny Anuwe disclosed that Siemens Energy had delivered crucial equipment worth over 63 million Euros to Nigeria since the project commenced.
Anuwe revealed that the equipment includes 10 units of 132/33KV mobile substations; 3 units of 75/100MVA transformers, and 7 units of 60/66MVA transformers, currently being installed by FGN Power Company at various sites across Nigeria.
The statement further explained that the Presidential Power Initiative project will also focus on identified load demand centres with a particular emphasis on economic and industrial hubs nationwide; execution of new 330kV and 132/33KV substations in target load centres with economic priority, in addition to thousands of kilometres of overhead transmission lines to connect new substations with existing ones.