- Saturday, May 4, 2024
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The Transmission Company of Nigeria
(TCN) said its power projects in Lagos under the Central Bank of Nigeria (CBN’s)
N123 billion intervention in the power sector will attain 100 per cent
completion in May 2024.
This was recently revealed by the
TCN Programme Manager, Matthew Ajibade, during an inspection of various
projects under the intervention in the state.
He spoke to a few stakeholders
who inspected the projects, comprising the senior management personnel of the CBN,
Ikeja Electric, Eko Electricity Distribution Company, and TCN.
According to Ajibade, the
projects are currently at 80 per cent completion.
He explained that in August 2022,
the CBN approved 53 contracts worth N122.29 million for the entire Discos in
Nigeria to intervene in the country's power sector.
He said: “These projects were
identified by the stakeholders to address the transmission and distribution
bottleneck in order to allow seamless evacuation of power from generation to
distribution network.
“So, the projects were conceived
about two years back through an open competitive procurement process that led
to the award of 53 contracts to different contractors.
“We are here, today, for the
inspection of those projects and consignments that have already arrived in some
selected sites.
“We plan to deliver this project
before the set deadline date. The project itself is in two categories, some are
supply contracts and we have others that are Engineering, Procurement, and
Construction (EPC).
“So far, 80 per cent of the
projects have been completed and we are sure that by May 2024, we will have
completed all the projects here in Lagos.”
Ajibade noted that 1,500 megawatts
(Mw) of additional power will be annexed as a result of the projects, although at
various stages for each distribution partner.
“We are expecting a great
improvement in the nation's power sector as there will be adequate capacity
available for the Discos to wheel power to their network from the transmission
network,” he said.
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