The Federal Executive Council (FEC) has approved €161.3 million for the implementation of contracts under the first batch of Phase 1 of the Siemens Power Project aimed at enhancing Nigeria’s electricity infrastructure.
The Minister of Power, Adebayo Adelabu, made this announcement while briefing State House correspondents after the Council meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja.
According to Adelabu, the approved funds cover engineering, procurement, construction, and financing for the upgrade of 331/32 KV and 132/33 KV substations under the Presidential Power Initiative (PPI), commonly known as the Siemens Project.
“The Federal Executive Council deemed it necessary to advance this project, aligning with President Tinubu’s commitment during his recent discussions with the German President,” Adelabu stated.
He explained that the first batch of Phase 1 entails the upgrade and expansion of 14 existing (brownfield) substations and the construction of 21 new (greenfield) substations nationwide. Key project locations include Onitsha, Offa, Abeokuta, Ayede, and Sokoto.
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In a related development, the Council approved N1.7 billion for the acquisition of an office complex for the National Electricity Liability Management Company (NEMCO) in Abuja. The office complex, located at Plot 2148, Cadastral Zone, Wuse 1 District, will be purchased outright to mitigate rising rental costs caused by inflation.
“NEMCO, established under the Electricity Power Sector Reform Act of 2005, plays a crucial role in driving electricity sector reforms. Acquiring this property will support the company’s expanded mandate and accommodate its growing workforce,” Adelabu explained.
These approvals represent significant progress in the federal government’s efforts to modernize Nigeria’s power infrastructure, improve electricity transmission, and ensure the sector’s stability and efficiency.
