The Federal Government has today signed an agreement on Electrification Road Map with Germany-based company, Siemens.
The agreement is aimed at resolving existing challenges in the power sector and expanding the capacity for future power needs.
Breakdown of the agreement is to achieve; 7,000 MW by 2021, 11,000 MW by 2023 and increase overall grid capacity to 25,000 MW.
The initiative is in two phases. Phase 1 is expected to be completed in 2 years and Phase 2 in 2023.
The Electrification Road Map agreement with Siemens
According to President Muhammad Buhari, is to address Nigeria’s electricity challenges.
“Our goal is a simple one: to deliver more electricity to Nigerian businesses and homes,” the President stated.
“My challenge to Siemens, our partner investors in the Distribution Companies, the TCN, and NERC, is to work hard to achieve the target of 7,000 megawatts of reliable power supply by 2021 and 11,000 megawatts by 2023 – in phases 1 and 2 of this initiative, respectively.
“Our intention is to ensure that our cooperation is structured under a Government-to-Government framework. No middlemen will be involved, so that we can achieve value for money for Nigerians.
“We also insist that all products be manufactured to high quality German and European standards and competitively priced.
“This project will not be the solution to ALL our problems in the power sector. However, I am confident that it has the potential to address a significant amount of the challenges we have faced for decades.
“It is our hope that as the power situation improves, we will improve investor confidence, create jobs.