The Transmission Company of Nigeria (TCN) said it has secured $1.55 billion from multilateral agencies to revive some important projects and expand the transmission grid. This was disclosed by the interim Managing Director of TCN, Mr. Usman Gur Mohammed, during the 18th Power Sector Stakeholders’ meeting in Kumboso, Kano State.
Mr Mohammed added that the intervention came from the World Bank, African Development Bank, Islamic Development Bank, European Union and JAICA, Daily Trust writes.
“The strategy is that we have approached the multilateral donors and we have been able to raise some significant money. We have also resuscitated some projects that had not been doing well, like the Abuja Transmission Project, which is supposed to provide three sub-stations and provide another avenue for supply through Abuja from Lafia.
“We have also resuscitated the JICA project that had been on the drawing board for a long some time now. These two projects, plus other projects is about $1.55bn which is coming from the World Bank, the African Development Bank (ADB), the Islamic Development Bank, JICA of Japan and the European Union is also giving us a grant,” Mohammed said.
He also noted that, “We have a stranded load generation of about 2,000mw. This is not healthy for the development of the sector.
“On growing the load and avoid load rejection, we are working with DisCos to see how to improve their capacity and we have appointed interface focal officers to help them pick more load.”
The TCN boss who assumed office in January this year said the public firm was now working towards realising 20,000mw of transmission capacity in the next few years, a statement by the Principal Manager (Public Affairs), Mrs. Ndidi Mbah, said.
This may yet prove an enormously tough task as the Minister of Power, Babatunde Fashola earlier in the week announced that power generation had dropped below 3,000mw – the lowest in years.
Search The Poise
Promote Your Music
Recent Posts On The Poise
- Nigerian Army Colonel Killed By Boko Haram In Borno
- COVID-19: PTF Disburses N1bn Each To 32 States
- 26 Kidnapped FRSC Officials Regain Freedom – Nasarawa Gov, Abdullahi Sule
- NCDC Records 195 New Coronavirus Cases In 11 States
- Wolves 1-3 Manchester City: De Bruyne drives opening win
- Milan 2-0 Bologna: Inspired Ibrahimovic gets Rossoneri up and running
- Juventus welcome Morata back to Turin ahead of forward’s expected move
- Cabals Embezzled Over ₦10trn Fuel Subsidy Payment – Mele Kyari
- FG Issues Fresh Warning As Schools Resume
- Real Madrid, Liverpool in regular contact with PSG star Mbappe
Top Posts & Pages
Entertainment News3 years ago
Justin Bieber & Selena Gomez Have Started Hanging Out Again
Articles3 years ago
Marcus Rashford’s Girlfriend Lucia Loi
Photos3 years ago
Leroy Sane’s Girlfriend Candice Brook
Celebrities2 years ago
David Beckham Allegedly Got His Daughter’s Teacher Pregnant
News2 years ago
Nigeria Gets Fresh $200m Loan To Finance Electricity Projects
Celebrities3 years ago
Jesse Lingard Breaks Up With Girlfriend Jena Frumes
Sport2 years ago
Bournemouth Signs Liverpool Defender Nathaniel Clyne On Loan
Entertainment News3 years ago
Top 10 Sexiest Young Female Celebrities in The World