Buhari Approves $61.5m and N16.7bn for Power Projects

Newsflash Nigeria StaffMay 25, 2023

2 minutes read

The Federal Executive Council (FEC) on Wednesday approved contracts worth $61.5 million and N16.7 billion for the procurement of transmission line materials and the construction of sub-stations in some parts of the country.

The Minister of Power, Abubakar Aliyu, who briefed the press after the FEC meeting presided over by President Muhammadu Buhari, said the contracts were aimed at improving power supply and distribution in the country.

He said the first contract was for the procurement of transmission line materials for reconductoring works for the Transmission Company of Nigeria (TCN) at the cost of $6 million and an onshore component of N145 million, inclusive of all taxes.

He said the second contract was for the construction of a 15-kilometer turn-in, turn-out line of the existing Akure-Ado-Ekiti 132 single-circuit transmission line at Akure 330, 132, 33 sub-stations of TCN at the cost of $2.5 million with an onshore component of N988.5 million.

He said the third contract was for the design, supply and installation of 132/33kv sub-stations and transmission lines across different locations in the country for TCN in favour of several contractors at the total cost of $53 million and an onshore component of N15.6 billion.

He said: “These projects are meant to improve power supply across different parts of Nigeria, especially where we have deficiencies in power supply.”

The minister also said that the Buhari-led government was involved in last-minute contracts worth N3.7 trillion amid general suspicion by the ministers to using the contracts as conduits to siphon public funds was false and baseless.

He said: “There is no truth in that report. The contracts we approved today are not last-minute contracts. They are part of our ongoing efforts to improve power supply in the country. We have been working on these projects for a long time and we followed due process in awarding them.”

He said the contracts were not meant to benefit any individual or group but to serve the interest of Nigerians.

He said: “We are not here to siphon public funds or enrich ourselves. We are here to serve Nigerians and deliver on our mandate. We are accountable to Nigerians and we will ensure that every kobo spent on these projects is well accounted for.”

He urged Nigerians to disregard any report that suggests otherwise and support the government’s efforts to improve power supply in the country.