Buhari Signs Major Deal With Siemens To Upgrade Nigeria’s Electricity Supply To 11,000 Megawatts

July 22, 2019
73 Views

President Muhammadu Buhari has signed a partnership agreement on Nigeria Electrification Roadmap (NER) with German Government and Siemens AG to upgrade the country’s power transmission & distribution infrastructure

The deal will see Siemens generating 7,000 megawatts by 2021 and 11,000 megawatts by 2023 in a country faced with erratic power supply.

Buhari while making remarks after meeting with the Global CEO of the Siemens, Joe Kaeser on Monday, said the government’s priority is to stabilise the power generation and gas supply sector in the country.

The president said the deal will involve Payment Assurance Facility, which led to a peak power supply of 5,222 MW. Buhari said:

Today, in partnership with the German Government and Siemens AG, we are making an important move forward in addressing Nigeria’s electricity challenge. Our goal is a simple one: to deliver more electricity to Nigerian businesses and homes.

“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, reduce the cost of doing business and encourage more economic growth in Nigeria.”

You may be interested

Nigerian Police Are Miracle Workers – Frank Mba
News
3 views
News
3 views

Nigerian Police Are Miracle Workers – Frank Mba

Webby - January 14, 2021

By Onwuka Gerald Deputy Commissioner of Police, Frank Mba, on Thursday, said security forces in Nigeria are miracle workers despite…

January 18 School Resumption Date Stands – FG
News
4 views
News
4 views

January 18 School Resumption Date Stands – FG

Webby - January 14, 2021

By Onwuka Gerald After striking an agreement with governors, Commissioners and other concerned stakeholders, the Federal Government has said that…

Nigeria Elite Must Fairly Criticize my Administration – Buhari
News
2 views
News
2 views

Nigeria Elite Must Fairly Criticize my Administration – Buhari

Webby - January 14, 2021

By Adejumo Enock The President of Nigeria, Muhammadu Buhari has called on Nigerian Elite to be fair in their criticism…

Leave a Comment

Your email address will not be published.