Fashola said the Federal Executive Council has approved a framework of investments to add another 2,000MW to the national grid, reports the Leadership.
The Minister recently stated that Nigeria has 2,000MW of electricity that is not getting to consumers and with this new investment in the power sector, the stranded power will now be distributed to consumers.
He said: “FEC today approved a Memo providing a framework of investment at the 33KVA and 11KVA line in expanding the national distribution network, to deliver an extra 2,000MW of electricity to consumers which is currently not getting to the grid, will get to the grid and then to consumers.
“Nigeria today has 2,000MW of electricity that cannot reach consumers because of lack of distribution capacity. It is not getting to the grid as the networks are not sufficient to support more than 5,000MW, so investments has to come in.” Read more…
Energy ministry sharing responsibility
He further stated that the process of procurement of the equipment, lines and all of the accessories to build the networks will be under international procurement standards.
“The federal government will put its own 40% and ask the DISCOs to put their own 60% and other parties who are interested will have the opportunity to improve the investments.
“This is just to accelerate action to ensure that the 2,000MW that is available now gets to the grid and gets to the people because power is coming. We are expecting many more power plants to complete this year which will add almost 1,600MW to the grid.
“So we can’t continue to accumulate power that doesn’t get to the people, so this framework is to start the process,” he stated.
Featured image: Stock