The Federal Executive Council, in its last meeting presided by Nigeria’s president, President Muhammadu Buhari approved funds for several projects in the power sector running into billions of naira despite the sector’s underperformance.
Driving the news
The three memos submitted by the Minister of Power, Abubakar Aliyu to the FEC are for the purchase of major electricity transmission equipment.
- N21.7 billion for the purchase of power transformers and a 260km construction and transmission line in Kebbi State.
- N853.25 million for the payment of consultants to prepare the concession of Ajaokuta Steel Plant and National Iron Ore Complex, Itakpe, in Kogi State.
Current situation
The power sector has come under heavy criticism by the Nigerian public following the recent collapse of the national power grid, reduced power generation, and poor maintenance of its facilities.
- A little over two weeks back, the Transmission Company of Nigeria (TCN) recorded 10 power plants generating 1,155.70 Mega Watts, a 68.42% drop in power generation. TCN had earlier in that week recorded a 3,658.80MW peak generation.
In case you missed it
- On the 14th of April 2022, FEC approved N1.4 billion for the purchase of handling equipment, haulage, and operational vehicles for the Transmission Company of Nigeria (TCN).
- The Central Bank of Nigeria promised to invest N104 billion in the power sector to improve the linkage of infrastructure that exists between the Transmission Company of Nigeria (TCN) and the nation’s eleven Distribution Companies (DisCos).