Reason Why TCN Needs ₦2.7trn for Power Projects

Reason Why TCN Needs ₦2.7trn for Power Projects

The Transmission Company of Nigeria (TCN) estimates it needs N2.779 trillion to complete 149 power infrastructure projects across the country, many of which are in various stages of completion…READ MORE…

Minister of Power, Adebayo Adelabu, revealed this during a budget presentation to the National Assembly, highlighting the Federal Government’s commitment to resolving the country’s electricity challenges, including grid collapses caused by outdated equipment.

Adelabu also announced the commencement of the second phase of the Siemens Presidential Power Initiative in Q1 2025, focusing on constructing five substations nationwide to enhance power supply and address grid instability permanently.

The minister called for collaboration with security agencies and advocacy efforts to protect power infrastructure from vandalism and banditry, which have significantly hindered progress in the sector. Additionally, Adelabu emphasized the ministry’s commitment to involving local contractors in its 2025 procurement plans.

Adelabu urged lawmakers for increased budgetary support to achieve President Tinubu’s mandate of ensuring reliable electricity for Nigerians.

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