Saturday, February 24, 2024

Power generation hits 3,522.80 MW

Uba Group

Average available power generation as at Monday evening was put at 12.1 per cent at 3,522.80 Megawatts from the 2,312 MW recorded last weekend.

This is following the indication by the Central Bank of Nigeria that it would inject about N103billion into the power sector to curb the incessant collapse of power grid in the country.

Nigerians had been grieving over the erratic power supply with the biting economic effects on both manufacturers as well as consumers.

The CBN stated that it would provide $250 million to expand electricity distribution and transmission infrastructure in a bid to ensure stability of the nation’s power grid.

The emergency plan by the Federal Government was said to be aimed at solving the problem of the collapse of the national grid which left the country without electricity supply for about two weeks.

It was gathered that the initiative would strengthen the interface between the Transmission Company of Nigeria and the electricity distribution companies.

The project is expected to gulp about N103 billion.

The Minister of Power, Abubakar Aliyu, said that the CBN funding, would help to ensure the rehabilitation of critical interface infrastructure between Transmission and Distribution to increase and stabilize power delivery.

Aliyu explained that the project was in addition to the Siemens Presidential Power Initiative that would bring in additional $2 billion or more to the Transmission Grid from the government.

The power grid had continued to fail with two system collapse. Aliyu said that government had secured a total of $4 billion to augment the grid.

According to the minister, the interface projects alongside others already being embarked upon by TCN brings ongoing projects in the transmission segment alone to 135 with 30 completed key Substation Projects and 12 transmission Lines.

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