The Buhari led Administration has pledged its commitment to completing major projects that will improve the power sector as well as implement plans that will provide solar energy in the country, despite sectoral challenges,
In a statement issued by his spokesman, Laolu Akande, Vice President Yemi Osinbajo stated this in Abuja, when he received a delegation from the African Development Bank (AfDB) led by the Bank’s Vice President for Power, Energy, Climate Change & Green Growth Complex, Amadou Hott.
Osibanjo noted that the Buhari led Administration, through various projects, is making more efforts to ensure there is improved power supply nationwide. One of such projects, Prof. Osinbajo noted, was the Federal Government’s Energizing Education Programme (EEP), which is a key component of its Economic Recovery and Growth Plan (ERGP) and Power Sector Reform Programme (PSRP). The project which is being carried out through the Rural Electrification Agency (REA), is expected to power Federal Universities and Teaching Hospitals with solar energy.
The World Bank.
W’BANK BEGINS PREPARATION FOR NIGERIA’S POWER DISTRIBUTION PROJECTS
The World Bank has commenced preparations for the Nigerian Electricity Distribution Improvement Project. It was learnt that the bank had conducted a fact-finding mission in the distribution sub-sector of the industry in order to ascertain how it could help boost service delivery by the power distributors and foster project development for the distribution sub – sector support,
The Power Sector Recovery Programme (PSRP), revealed that the financial institution had met with officials of the Ministry and other operators in the sector as regards the development. The PSRP also stated that the Nigerian Electricity Transmission Access Project recently got funding approval from the World Bank. It said, the World Bank has approved a credit facility for Nigeria’s electricity transmission substation rehabilitation. This is part of the financial support aimed at achieving a viable power sector through the PSRP implementation.
Minister of Power, Works and Housing, Babatunde Raji Fashola SAN
OVER 39000 SHOPS TO BE PROVIDED WITH ELECTRICITY IN ARIARIA, ABIA STATE
Minister of Power, Works and Housing, Babatunde Raji Fashola SAN said the Federal Government will provide electricity for over 39,000 shops in Ariaria International Markets, Aba in Abia before the end of the year, saying the project was a presidential mandate to the Rural Electrification Agency (REA) working with the Ministry to energize the market.
Fashola said electrification of the market became necessary given the huge cost incurred by traders who use generators to power their businesses and the important role small businesses play in driving the economy, and boosting made in Nigeria products. He said the provision of a model of electricity for the markets by government would change the many years’ narrative of no power to improve the economy
MD/CEO, NDPHC, Chiedu Ugbo with his technical team on a working visit to the on- going project of 330/132kv, 3x150MVA Transmission Sub- station in Ikot Abasi, Akwa Ibom State.
NDPHC BOSS RAISES HOPE ON IKOT ABASI TRANSMISSION SUB-STATION
Managing Director /Chief Executive Officer, Niger Delta Power Holding Company Limited (NDPHC), Chiedu Ugbo has said that the Ikot Abasi 330/132kv, 3x150MVA substation would be completed in twelve months’ time. Ugbo gave this assurance when he led NDPHC technical team on the inspection of the project in Akwa Ibom State, pointing out that few things that needed to be done have been identified and approval sought .
According to him, the contractors will soon return to site as funds would not be a major hindrance to move the project forward. “The hope I am given on the project is that, it will be completed in 12 months.” he said. Ugbo who commended the technical team on the progress recorded on the job stated further that the management is committed to project delivery in line with the Federal Government’s determination to give power to Nigerians.
Rural Electrification Project
ROADMAP ON RURAL ELECTRIFICATION TO BE LAUNCHED
The challenge of power supply in the rural communities will soon be a thing of the past, as Rural Electrification Agency (REA) in collaboration with Rocky Mountain Institute (RMI) are set to launch a new rural electrification road map. The road map which is regarded as first-of its kind, would be launched in May, 2018. The initiative, which outlined reduction of the cost of power to about $0.20/kWh from electric mini-grid technology by 2020, will also determine how much capital is required, plan transitioning funding from grants and high-risk concessional as well as government sources to venture capital and private equity.
Managing Director, Rural Electrification Agency, Damilola Ogunbiyi, said “the electricity market for off-grid energy in Nigeria is huge and profitable for developers. Installing 1,000 mini-grids each year for the next 10 years would provide power to millions of Nigerians currently off-grid”.
Founder of Virgin Group and an RMI donor, Richard Branson, said: “Nigeria has all the right rivers to become a leader in the mini-grid market in Africa, great entrepreneurial tradition, a large self-employed population and market size.