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UPDATE 1-Nigeria agrees plan with Siemens to nearly triple power supply by 2023

Published 22/07/2019, 14:13
© Reuters. UPDATE 1-Nigeria agrees plan with Siemens to nearly triple power supply by 2023
SIEGn
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(Adds details, quotes)
By Felix Onuah
ABUJA, July 22 (Reuters) - Nigeria and German company
Siemens SIEGn.DE have agreed a roadmap to nearly triple the
country's "reliable" power supply by 2023, President Muhammadu
Buhari said on Monday.
Nigeria's ailing power infrastructure, which forces
businesses and households to run costly fuel generators, is
often blamed for hobbling growth in Africa's largest economy.
The dilapidated government-owned grid, operated by the
Transmission Company of Nigeria, would collapse if all the
country's power generators operated at full tilt.
Buhari, who held talks with Siemens CEO and president Joe
Kaeser in Nigeria's capital, Abuja, said that currently only an
average of 4,000 megawatts reliably reaches consumers despite
there being over 13,000 megawatts of power generation capacity.
"My challenge to Siemens, our partner investors in the
Distribution Companies, the Transmission Company of Nigeria and
the Electricity Regulator, is to work hard to achieve 7,000
megawatts of reliable power supply by 2021 and 11,000 megawatts
by 2023," said Buhari.
Buhari, who said the ultimate goal was to drive generation
capacity and overall grid capacity to 25,000 megawatts, did not
disclose the monetary value of Siemens' involvement in the plan.
In December, Reuters reported that plans to build another
privately-financed power station were delayed because of
concerns about persistent shortfalls in payments for electricity
across the sector.

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