TCN Requires N2.8trn to Execute 149 Projects— Power Minister

The Minister of Power, Adebayo Adelabu has disclosed that the Transmission Company of Nigeria, TCN, needs about N2.8 trillion to execute 149 projects to improve electricity transmission across the country.  

A statement by the Ministry  said Adelabu made this disclosure in separate appearances before power sector committees in the National Assembly to defend the Ministry of Power’s 2025 budget proposal.

The Minister also disclosed that, as part of efforts to improve power supply, the Federal Government has approved the commencement of the second phase of the Siemens power project under the Presidential Power Initiative with 95 percent completion of the pilot stage in 2024.  

He said: “”For the TCN alone, we will need about N2.779 trillion to enable us to execute about 149 projects we are currently engaged in all over the country. Our total budget as a ministry is not even up to this but as the saying goes that half bread is better than none.

“I’m telling you so that you can be aware of the kind of money that is needed in the ministry for us to address our electricity challenges. We need your cooperation and collaboration in achieving the mandate of Mr. President in electricity supply to Nigerians”, the Minister said.

Speaking further on the Siemens project, Adelabu said, the substations to be built across the country, would address the nation’s fragile power infrastructure, occasioned by obsolete and outdated equipment.

“The Federal Government is fully determined to address these challenges and issues that have been blocking our progress in our effort to provide electricity to Nigerians and our consumers. Of particular note is the grid collapse, which has to do with the obsolete and outdated equipment around our power stations.

“To practically address this, the Siemens project will come on board in the first quarter of this year. We have almost concluded the take off of the project and it will involve building five substations across the country. This will energise our supply so that the issue of grid collapse will be a thing of the past. By next week, we will begin the contracts for the substations to come on board”.