NIGERIA: Power Transmission to get $1.6 billion investment

 Energy and Related Services

The Federal Government made an announcement on Thursday that they are likely to make an investment of $ 1.6 billion to upgrade and enhance the power transmission network across the nation.

The National Economic Council has made the project approved in order to provide stable power supply in the country. The funds would be derived from the proceeds of the National Integrated Power Projects (NIPP) with in the nation, says, Prof. Chinedu Nebo, Minister of Power, when a delegation of the Bankers' Forum visited him in his office in Abuja.

The Federal Government would also project $500 million from the World Bank and $150 million from the African Development Bank (AfDB) to improve the sector.

The renewed strength was regulated toward infrastructure development of the transmission sub-sector, which was decisive to power supply chain. The transmission is the life-wire in the electricity value chain and the government is committed to expand the transmission capacity to 120 per cent of generation.Read complete story at http://www.tendersontime.com/blog-detail/nigeria-power-transmission-get-16-billionvestment-67.php