Nigeria raised $ 1.55 billion to improve the national transmission system

Nigeria raised $ 1.55 billion to improve the national transmission system

2017-08-19
Nigeria raised $ 1.55 billion to improve the national transmission system

Nigeria's transmission company TCN has revealed that the company has received $ 1.55 billion in financing from multilateral agencies to restore key projects and expand the national transmission network system.

TCN on behalf of the general manager Usman Gur Mohammed at the 28th power meeting held on Monday confirmed that TCN has been from the World Bank, the African Development Bank, the Islamic Development Bank, the European Union and Japan International Cooperation Agency and other multilateral institutions financing more than $ 1.55 billion.

Usman Gur Mohammed said, "These financing will allow us to restart a number of projects, including Abuja power transmission projects, three sub - substation projects, etc. These will help to further expand the national grid system to improve the transmission capacity.

At present, the Nigeria power deficit is about 2000 megawatts, which is the development of the power industry is very unfavorable. In order to solve this problem, the Nigerian national transmission company is working with domestic power distribution enterprises to improve transmission and distribution capacity, improve the domestic power supply situation, to solve the last kilometer transmission problem.