In a significant development, President Bola Tinubu and German Chancellor Olaf Scholz came together to witness the signing of an accelerated performance agreement aimed at improving electricity supply in Nigeria.
The agreement was signed by the Managing Director and CEO of FGN Power Company and Siemens Energy’s Senior Vice President and Managing Director for Africa, which is a remarkable step towards the end-to-end modernization and expansion of Nigeria’s electric power transmission grid.
The Presidential Power Initiative (PPI), formerly known as the Nigeria Electrification Roadmap Initiative, is a positive outcome of the visit of former German Chancellor Angela Merkel to Abuja in August 2018. The project will focus on economic and industrial hubs nationwide with identified load demand centers.
The agreement will ensure project sustainability and maintenance with full technology transfer and training for Nigerian engineers at the Transmission Company of Nigeria (TCN). This will help in the execution of new 330kV and 132/33KV substations in target load centers with economic priority, in addition to thousands of kilometers of overhead transmission lines to connect new substations with existing ones.
With this development, we can expect a significant improvement in electricity supply and a boost to the economic and industrial growth of the country.
