Nigeria’s Federal Government has signed a $463 million agreement with a Chinese consortium to undertake a massive upgrading of power distribution lines in the West African nation to ensure efficient electricity delivery.
The deal would be financed by the China Exim Bank.
The deal is under the Presidential Power Initiative signed between the Ministry of Power and Civil Engineering Construction and TBEA Energy.
It is expected to enhance the availability of electricity to homes and businesses nationwide.
This was contained in a statement issued by Bolaji Tunji, Special Adviser for Strategic Communication and Media Relations to the Minister of Power.
“This agreement is aimed at upgrading the distribution lines infrastructure under Lot Three of the PPI, which encompasses the regions served by Jos, Kano, Abuja and Kaduna distribution companies.
“The signing ceremony took place during the 3rd Belt and Road Initiative event held in Beijing, China. A similar MoU was signed between the Transmission Company of Nigeria, CCECC, and TBEA to establish a super grid for the power sector,” he said.
According to him, the Minister for Power, Adebayo Adelabu, and his team were hosted by these two organisations, particularly CCECC, which had been operating in Nigeria for the past 42 years.
It stated that the presentation was conducted by the Global Chairman of CCECC, Mr Liu Wiemin, and TBEA Global President, Mr Huang Hanjie.
The Nigerian delegation to China was led by Vice President Kashim Shettima, and was accompanied by Adebayo Adelabu; Minister for Works, David Umahi; Transportation Minister, Sa’idu Alkali; Foreign Affairs Minister, Amb Yusuf Tuggar; and heads of various government agencies.
The Belt and Road initiative, established by the Chinese government a decade ago, seeks to promote infrastructure investment and cooperation across approximately 70 countries in Africa, Asia and Europe.
In 2018, former President Muhammadu Buhari signed the Belt and Road Agreement on behalf of the Nigerian government.
Power Minister Adelabu assured both companies of a long-term partnership, given the strong relationship between China and Nigeria, which was further strengthened at the BRI event.
He also outlined President Bola Tinubu’s administration’s plans to rejuvenate the power sector by addressing critical requirements and implementing impactful projects.
Source: https://energynewsafrica.com
