N45bn needed to reach 8,000MW of electricity supply

According to the Transmission Company of Nigeria, the federal government, needs to invest N15bn annually for the next three years, to generate 8,000MW(megawatts) of electricity in the country.

The acting managing director of the company, Dr. Atiku Abubakar, in an interview with newsmen, stated that the federal government will need a total of N45bn to execute this project.

Abubakar said, “The country will need to invest N15bn within two to three years to achieve 8,000MW. We have shortlisted them and now we
are building the framework for repaying the investors.”

Abubakar, also noted that the company, has identified 130 stalled projects, and amongst the 130, the company, has identified 30, that are very critical.

He said the company, is talking to government and other sources, in other to raise funds for the execution of the project.

Abubakar, who said that 8,000MW, is the expected transmission capacity within the short - run, also added that the privatisation of the TCN was likely going to be in the long term as
discussions on this was not on the table for now.

He had also said, “We are making all efforts to ensure that funds are raised outside the appropriation of government; we have investors who are ready to come into the country to invest in our schemes.”