President Bola Tinubu and German Chancellor Olaf Scholz witnessed the signing of an accelerated performance agreement aimed at accelerating the implementation of the Presidential Power Initiative (PPI). This initiative is designed to enhance electricity supply in Nigeria.
The agreement, which took place on the sidelines of the COP28 climate summit, involved Mr. Kenny Anuwe, the Managing Director and CEO of FGN Power Company, and Ms. Nadja Haakansson, Siemens Energy’s Senior Vice President and Managing Director for Africa.
The PPI, previously known as the Nigeria Electrification Roadmap Initiative, originated from the visit of former German Chancellor Angela Merkel to Abuja in August 2018. A governmental agreement between Nigeria and Germany in 2019 laid the foundation for improving the power sector.
Since assuming office, President Bola Tinubu has consistently advocated for the accelerated realization and expansion of the PPI. This project has been a major focus in three rounds of bilateral discussions during meetings between the President and the German Chancellor in New Delhi, Abuja, and Berlin.
The agreement signed in Dubai is geared towards the end-to-end modernization and expansion of Nigeria’s electric power transmission grid. It involves the full supply, delivery, and installation of Siemens-manufactured equipment within a timeline of 18 to 24 months. The agreement also emphasizes project sustainability and maintenance, including full technology transfer and training for Nigerian engineers at the Transmission Company of Nigeria (TCN).
Following the signing ceremony, Mr. Kenny Anuwe, Managing Director of the FGN Power Company, highlighted Siemens Energy’s effective delivery of crucial equipment valued at over 63 million Euros since the project commenced. This includes mobile substations, transformers, and other essential components currently being installed at various sites across Nigeria.
The project’s focus will extend to identified load demand centers, particularly economic and industrial hubs nationwide. Additionally, it involves the execution of new substations and the establishment of thousands of kilometers of overhead transmission lines to connect new substations with existing ones.
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