Tuesday, October 21, 2014

Nigeria Power transmission network requires 160 billion naira annual investment

Nigeria Minister of Power, Prof. Chinedu Nebo, said on Monday(October 20th,2014) that 160 billion naira investment was required annually to achieve improvement in power transmission network. Nebo said this at the Nigeria Society of Engineers (NSE) Expert Group Meeting, in Abuja, on Developing Infrastructural Ranking and Scorecard Road-map.

The Minister said vandalism and obsolete infrastructure were some of the major hindrances to

effective power transmission network development in Nigeria and that the Transmission infrastructure is out-of-date and many of the equipment are in poor condition due to neglect in the NEPA/PHCN era.He also stated that "It is expected that the transmission network will require a minimum investment of one billion dollars (about 160 billion naira) a year over the next few years to meet current demands and position itself towards global competitiveness."

BusinessDay reported that the minister announced that the Transmission Company of Nigeria (TCN) was discussing with a number of potential investors towards building a solid transmission network for the country.

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