KEY POINTS
- TCN appeals for multinationals’ huge investments to hit the 10,000MW power target by 2025.
- Lagos and Ogun states receive a new boost in power supply from newly commissioned transformers.
- $200 million Ongoing projects that will help increase Nigeria’s power infrastructure.
The Federal Government must invest more in the power sector to match rising electricity demands, the Transmission Company of Nigeria (TCN) has urged.
TCN Managing Director, Engr. Sule Ahmed Abdulaziz, who was speaking during the inspection of newly commissioned power transformers in Lagos, added that achieving the government’s 2025 target of 10,000 megawatts of power generation will require huge funding.
‘Now if we’re talking 10,000, 20,000 or 25,000 megawatts, you need significant investment,’ he said. The fact of the matter is that the power sector is not cheap. Take for instance the spending India does on electricity. It spends more than $500million yearly,” Abdulaziz stated.
But he said while there are several priorities within government, electricity is an essential platform for national development and government must put in more money to develop the power grid.
Projects ongoing to bolster power capacity
“The World Bank is funding ongoing projects worth $200 million in an effort to increase Nigeria’s electricity supply.” Abdulaziz said.
Key achievements include:
– Sango-Otta Substation Upgrade: A 100/125 MVA power transformer is commissioned, raising the capacity to 260 MW from 160 MW. With this upgrade, customers in Wagba, Iju, Ijoko, Agege, Okun Obi, Ota, Sango, were assured of improved power availability to those areas.
– Alausa Substation Expansion: A new 100MVA transformer has raised substation capacity to 230MVA, thus aiding power distribution to Ikeja, Oregun, Alausa, Ojodu Berger and environs.
‘By providing these upgrades, we show how dedicated we are to providing bulk power for distribution companies to enhance electricity access in the country,’ Abdulaziz said.
With enough investment he said that Nigeria could surpass its power generation targets and ensure stable electricity to bolster economic growth and also development.
