President Muhammadu Buhari has said that with the agreement it has with Siemens, the country would be able to transmit and distribute a total of 11,000megawatts of power by 2023.
The country and electricity giant, Siemens in 2019, signed a six-year power deal that will lead to the production of 25,000 megawatts of electricity by 2025.
Buhari had tasked the firm, Transmission Company of Nigeria (TCN) and the Nigerian Electricity Regulatory Commission (NERC) to work on achieving 7,000mw and 11,000MW of reliable power supply by 2021 and 2023 in the first and second phases of the deal, respectively.
He said after the transmission and distribution system bottlenecks have been fixed, the third and final phase would focus on driving generation and overall grid capacity to 25,000 megawatts.
While reiterating the Federal Government’s (FG) commitment to power delivery in the country, Buhari in his democracy day speech, delivered on Friday, stressed the importance of the power sector to economic development.
“The Power Sector remains very critical to meeting our industrial development aspirations and we are tackling the challenges that still exist in the delivery of power through different strategies.
“Our agreement with Siemens will transmit and distribute a total of 11,000 Megawatts by 2023, to serve our electricity needs.”