Nigeria and electricity giant, Siemens, have signed a power deal that will lead to the production of 25,000 megawatts of electricity by 2025.
President Muhammadu Buhari gave the indication at the Presidential Villa on Monday during a meeting with the Siemens’s Global Chief Executive Officer, Mr Joe Kaeser.
He asked Siemens, the Transmission Company of Nigeria and the regulator to work hard to achieve 7,000mw and 11,000MW of reliable power supply by 2021 and 2023 in the first and second phases of the deal, respectively.
By 2025 when the contract will lapse, a total of 25,000MW is expected to have been met.
The deal came out of the August 31, 2018 meeting between the Nigerian President and the German Chancellor, Angela Merkel, in Abuja.
Buhari said on Monday, “We all know how critical electricity is to the development of any community or indeed any nation. “And in Nigeria, while we are blessed to have significant natural gas, hydro and solar resources for power generation, we are still on the journey to achieving reliable, affordable and quality electricity supply necessary for economic growth, industrialisation and poverty alleviation.
Source: Punch Newspaper
