iNews

News & Information

The Federal Government to invest N198.28bn in power projects

Keeping you Informed

INEWSBC | The Federal Government is to invest N198.28bn on various capital projects in the power sector in different parts of the country in 2021.

Different sectors in the power industry have been mapped out to partake in the N198.28bn fund for capital projects in the 2021 budget proposal that was recently submitted to the National Assembly.

The Federal Ministry of Power will make the largest investment as it targets to invest N173.78bn on capital projects during the period.

National rural electrification, managed by the Rural Electrification Agency, will invest a total of N17.86bn on power infrastructure development in rural communities.

The Nigerian Electricity Regulatory Commission plans to invest N294.1m on capital projects, while capital projects to be handled by the Nigerian Electricity Management Services Agency will gulp N441.1m.

The allocation for capital projects to be handled by the Transmission Company of Nigeria, as contained in the budget, is N4.69bn.

Also, the capital outlay projected for 2021 by the Nigeria Electricity Liability Management Limited is N914.87m, while the National Power Training Institute targets to invest N294.1m.

The total overhead for the entire ministry and its agencies was N1.16bn.

The amount budgeted for personnel in the power ministry and its agencies is N4.9bn.

The Federal Government over the years has been striving to grow the nation’s power generation and supply.

Nigeria currently generates between 4,000 megawatts and 5,000MW, although the country’s total installed power generation capacity is about 13,000MW.

The Managing Director, Niger Delta Power Holding Company, Chiedu Ugbo, projected that the country’s power supply would increase from 5,000MW to 7,000MW next year.

He told our correspondent in Abuja that the Siemens deal by the Presidential Power Initiative would help boost the country’s electricity sector and grow the quantum of power on the grid.

Ugbo said, “The government has been able to secure the Siemens deal through the Presidential Power Initiative.

“Out of the 13,000MW installed capacity in Nigeria, 8,000MW is available and ready to run but we are doing less than 5,000MW today.”

He added, “So what Siemens has come to do through the project is to help clean up the networks. Clean up transmission and the argument between transmission and distribution companies will be eliminated.”

He said all the technical loses would be cleaned out, adding that commercial loses would be resolved and the collection by way of metering would be done.

“So in the next one year or thereabout, we will be able to get at least 7,000MW of that taken up and served to Nigerians,” Ugbo stated.

I-News Categories

Covid-19 Statistics

South Africa

Last Updated: 5 mins ago

Confirmed Cases

0

New Cases

0

Total Deaths

0

New Deaths

0

Total Recovered

0

Active Cases

0

in Critical

0

CAPE TOWN WEATHER

Cape Town
16°
Fair
SatSunMon
min 13°C
24/15°C
26/15°C

JOHANNESBURG WEATHER

Johannesburg
13°
Light Rain
SatSunMon
min 12°C
19/12°C
22/13°C

Durban Weather

Durban
18°
Light Rain
SatSunMon
min 17°C
19/17°C
23/19°C

Port Elizabeth Weather

Port Elizabeth
15°
Partly Cloudy
SatSunMon
min 12°C
25/13°C
27/14°C

COVID-19 STATISTICS

Angola

Last Updated: 5 mins ago

Confirmed Cases

0

New Cases

0

Total Deaths

0

New Deaths

0

Total Recovered

0

Active Cases

0

in Critical

0

Luanda Weather

Luanda
25°
Mostly Cloudy
SatSunMon
min 24°C
30/24°C
30/24°C

COVID-19 STATISTICS

Botswana

Last Updated: 5 mins ago

Confirmed Cases

0

New Cases

0

Total Deaths

0

New Deaths

0

Total Recovered

0

Active Cases

0

in Critical

0

Gaborone Weather

Gaborone
24°
Fair
SatSunMon
min 19°C
27/17°C
29/18°C

COVID-19 STATISTICS

Malawi

Last Updated: 5 mins ago

Confirmed Cases

0

New Cases

0

Total Deaths

0

New Deaths

0

Total Recovered

0

Active Cases

0

in Critical

0

Lilongwe Weather

Lilongwe
19°
Fair
SatSunMon
min 17°C
29/18°C
29/19°C

COVID-19 STATISTICS

Zambia

Last Updated: 5 mins ago

Confirmed Cases

0

New Cases

0

Total Deaths

0

New Deaths

0

Total Recovered

0

Active Cases

0

in Critical

0

Lusaka Weather

Lusaka
15°
Fair
SunMonTue
min 13°C
27/13°C
24/11°C

COVID-19 STATISTICS

Zimbabwe

Last Updated: 5 mins ago

Confirmed Cases

0

New Cases

0

Total Deaths

0

New Deaths

0

Total Recovered

0

Active Cases

0

in Critical

0

Harare Weather

Harare
18°
Clear
SatSunMon
min 15°C
28/15°C
29/16°C
error: iNews Contents are Copyright Protected !!