Presidential Power Project Initiative: First set of transformers delivered – FG

THE Minister of Power, Abubakar Aliu, said the first set of power transformers in the €63 million deal between the federal government and Siemens have started arriving in Nigeria.

On August 31, 2018, in Abuja, the Presidential Power Initiative (formerly the Nigeria Electrification Roadmap) was formed between Nigeria and Germany.

Following several engagements and reviews on the technical and commercial considerations for the project, the letter of agreement was signed by the Director-General of the Bureau of Public Enterprise (BPE), Alex Okoh, and the Global chief executive of Siemens, Joe Kaeser, in the presence of President Muhammadu Buhari on July 22, 2019 at the State House.


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The Siemens deal, which is expected to significantly improve the country’s electricity distribution capacity and resolve challenges in the power sector, was approved in December 2021.

In the agreement, Nigeria would provide a signature bonus account of about €15.2 million and N1.7 billion as its 15 per cent counterpart funding for the concessionary loan.

Based on the pact, The ICIR had reported, an order was placed for the purchase of 10 Unitra transformers and 10 mobile sub-stations.

The transformers, which are expected to rehabilitate the Nigeria Electricity Supply Industry (NESI), are part of the loan agreement with the German government through its electricity firm, Siemens.

Speaking at the 5th National Council on Power (NACOP), in Abuja, Aliu said the 10 Unitra transformers to be situated across the country had started arriving.






     

     

    He also noted that the federal government had developed the National Renewable Energy Efficiency Policy, with the accompanying vision 30:30:30, which aims at achieving 30,000 megwatts of electricity by the year 2030, with renewable energy contributing 30 per cent of the energy mix.

    “Renewable energy is taking the centre stage of the ongoing reforms in the power sector in Nigeria, as visible from the ongoing and completed projects like the Zungeru Hydroelectricity power project, which is at 97 per cent completion and is expected to provide 700 megawatts of electricity to the national grid,” he said.

    The Power minister disclosed that the $1.3 billion Zungeru power project was currently 97 per cent complete.

    The project is expected to provide 700 megawatts of electricity to the national grid, while the Kashimbila Hydroelectric power project will provide 40 megawatt.

     

     

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