President Bola Ahmed Tinubu has inked a pact with German Chancellor Olaf Scholz to enhance Nigeria’s grid capacity and upgrade the nation’s electricity supply.
This agreement, an extension of the Presidential Power Initiative (PPI), was formalized by Kenny Anuwe of FGN Power Company and Siemens Energy’s Nadja Haakansson at COP28 in Dubai.
Initiated in 2019, the PPI project unfolds in three phases, targeting a 2GW grid boost, operational capacity of 11GW, and a long-term goal of 25GW. Minister of Power Adebayo Adelabu assured that, despite delays due to factors like COVID-19, Nigeria is set to modernize and expand its power transmission grid.
Siemens Energy has supplied essential equipment, and the project anticipates expanding grid capacity from 6,000 to 8,000 MW within 12-24 months, with aspirations to reach 12,000MW in three years.
Financed by Nigeria’s export credit facilities from German banks, the estimated cost is $2.3 billion, with $60 million executed for initial equipment imports.
The phased approach spans short-term (12-24 months), medium-term (three to four years), and long-term, focusing on comprehensive grid improvement.
