The ongoing projects nationwide, facilitated by TCN and power distribution companies in collaboration with the Central Bank of Nigeria (CBN), are nearing completion.
These initiatives encompass the installation of eight 150MVA power transformers, 19 1000MVA transformers, and 60MVA transformers.
Additionally, efforts include the reconductoring of existing transmission lines, upgrading of 132/33KV substations, and the construction of 33KV line bays.
During a visit to transmission stations in Ojo, Isolo, and Oworonshoki in Lagos on December 6, Mathew Ajibade, the Programme Coordinator at TCN, affirmed that the successful execution of these projects will significantly enhance the company’s capacity to transport electricity, resulting in an increase of over 1,000 megawatts.
He said: “The projects are currently being implemented through the project management office at the TCN headquarters in collaboration with both TCN field engineers and the Discos technical team. The time set for completion of the projects is May 2024 latest. PMO made progress with the implementation of the programme despite challenges encountered and is committed to ensuring the successful implementation.”
Tumba Tijani, who is the Assistant Director and oversees the Infrastructure Finance Office at the Central Bank of Nigeria (CBN), clarified that the central bank provided a loan for the project in August of last year. This loan was given at a 9% interest rate.
He mentioned that a total of N85.43 billion has been given out to 53 different contractors involved in the projects. This money has been disbursed into the Advance Payment Guarantee account to help these contractors carry out their tasks.
He said: “The CBN in continuation of its intervention in the power sector approved the sum of N122, 289, 344 for the programme Nigeria Electricity Market Stabilization Facility-3 based on the projects estimated for the identified projects.
The facility aims to resolve the transmission/distribution interface bottlenecks to improve supply to end users and unlock the unutilized generation capacity in the country.”
The Minister for Power, Adebayo Adelabu, has acknowledged that while the generation and distribution of power in the country have been entrusted to private entities, the aspect responsible for transmitting electricity remains under government control.
Unfortunately, this sector has faced limited advancements, primarily due to aging infrastructure, including substations, transformers, and power lines that lack the necessary robustness.
Adelabu has committed to a government initiative focused on the reorganization and enhancement of this infrastructure. The goal is to guarantee an improved and more dependable electricity supply for all Nigerians throughout the nation.
