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Nigerian government moves to invest $800m in power sector

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The Federal Government says it plans to invest 800 million dollars in the construction of substations and distribution networks as part of the Presidential Power Initiative, PPI.

This is contained in a statement issued by Mr Bolaji Tunji, the Special Adviser, Media and Strategic Communication to the Minister of Power in Abuja on Sunday.

Tunji said the Minister of Power, Mr Adebayo Adelabu said this during a tour of the TBEA Southern Power Transmission and Distribution Industry in Beijing, China.

He said the minister was in Beijing for the China-Africa Cooperation Summit.

Adelabu said that the investment would be divided into two lots: 400 million dollars for Lot 2, covering Benin, Port Harcourt, and Enugu Distribution Companies (DISCOs) franchise areas, and 400 million dollars for Lot 3, covering Abuja, Kaduna, Jos, and Kano DISCOs franchise areas.

The minister expressed concern over the rejection of power by Electricity Distribution Companies, DISCOs, which recently led to a reduction in generation capacity from a peak of 5,170 megawatts by 1,400 megawatts due to their inability to manage the supply.

He said that in spite of the setback, the government aims to increase power generation to 6,000 megawatts by the end of the year.

Adelabu reaffirmed the government’s commitment to collaborating with world-class organisations like TBEA to realise President Bola Tinubu’s vision for the power sector.

”Especially in the areas of transmission and distribution of the entire power sector value chain as well as Nigeria’s renewable energy segment.”

Adelabu said that Nigeria had in 1984 generated 2,000 megawatts, and it took over 35 years to add another 2,000 megawatts.

He said under the current administration, power generation increased from 4,000 megawatts to 5,170 megawatts within a year.

The minister, speaking on the problems in the power sector which had hindered industrial growth, said this was due partly to the fragility of the Transmission and distribution infrastructure which had become old and dilapidated.

“This has led to a historical epileptic supply of Power to households, industry and businesses.

“More than 59 per cent of industries in Nigeria are off the grid. They did not see the national grid as reliable and dependable. So a lot of them now operate their own captive, self-generated power, ” he said.

Nigerian government moves to invest $800m in power sector

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iPhone Xs | Xr are now on their 6th year receiving iOS updates

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iPhone XR, IPhone XS
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The iPhone XS and XR are indeed receiving their sixth round of iOS updates, which is a testament to Apple’s commitment to supporting their devices with the latest software.

This is great news for users who have stuck with these models, as they’ll continue to receive security patches, new features, and performance improvements.

Not on par with Samsung or Google, but still very impressive

Of course, the new features those devices actually get is a different story

 

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Enugu to Assemble 1,000 Tractors Locally by 2025, 300 Ready in 2024– Gov Mbah

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… as NECA lauds Mbah on economy, ease of doing business

As part of the effort of his administration to grow the state’s economy from $4.4bn to $30bn and ensure food security, tractors needed for farming in Enugu State will be produced in the state before the end of the year, governor of the state, Dr. Peter Mbah has announced.

The governor stated this when he received the newly elected president of the Nigeria Employers’ Consultative Association, NECA, Dr. Ifeanyi Okoye, and other leaders of the association at the Government House, Enugu, at the weekend.

He reiterated his administration’s commitment to creating a business-friendly environment and helping to de-risk investment in the state, calling on investors to key into the growing investment revolution in the state.

“We are ready for business and we are open for business. You could not make a better choice than Enugu when you are thinking about where to invest or where to grow your wealth because you are dealing with a government that is business-friendly and we do not only think about creating the environment for businesses to thrive, we are also interested in working with you collaboratively either as a Joint Venture (JV) or Private Public Sector Partnership (PPP) or even helping you to de-risk the investment flow. We are interested in listening to you, knowing what areas that would make it possible for you to invest.

“We have just signed an order with a Danish company that is coming here to manufacture their tractors. So, our target is that before the end of the year, we would have been able to assemble over 300 tractors. Our ultimate target in the medium term is to get up to 1,000 tractors before the end of next year.

“What this means is that you would not have to import the machinery and the implements you need to be able to farm in Enugu State.

“Again, we are interested in value addition and processing too. We are building a Special Processing Zone where we expect that as we plan to scale up our production in the agricultural space, we also have produce cities where those things can be processed. It is not just producing and exporting them raw. We are planning to add value, create and capture those values,” Mbah said.

He added that the government was taking measures to ensure the availability of the necessary infrastructure, ranging from urban roads to access roads to farm, power, and water, while also making huge investments in security and collaborating with security agencies to sustain and strengthen the relative security attained by the state in the last 15 months.

“In the area of roads, our target is to make sure that all our streets, all our roads in the city are paved and we are already achieving that. Just recently, we completed the 71 roads we awarded last October and we again awarded another 141 roads. We are also making sure that we also get our rural roads paved, most importantly the access road to the farmlands because we have some ambitious target in our agricultural sector where we now have over 300,000 hectares of land in our landbank,” he said.

Mbah congratulated Dr. Okoye, who is also the Managing Director of Juhel Nigeria Limited, on his emergence as NECA President, assuring of his administration’s readiness to collaborate with NECA to create more economic opportunities in the state.


Speaking earlier, the NECA leadership pledged unwavering commitment to fostering partnerships that will catalayse socio-economic development in Enugu State and the South East, having observed the governor’s vision and business-minded approach to governance.

“We have closely observed your outstanding leadership, coupled with your clear vision for the transformation of Enugu State. Your administration’s focus on economic diversification, infrastructure development, and human capital enhancement aligns perfectly with NECA’s objectives.


“We believe that through strong collaboration between the public and private sectors, we can collectively drive growth, create jobs, and improve the overall well-being of the citizens,” the NECA president stated.

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Fuel Hike: FG expands distribution of CNG conversation kits to States

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The Federal Government has expanded the distribution of Compressed Natural Gas (CNG) conversion kits to various states, including Abuja, Kaduna, Lagos, and Ogun, in response to rising fuel costs.

The goal is to encourage a switch to CNG as a cleaner and more affordable alternative to petrol.

Approximately 10,000 conversion kits are being distributed, with plans to convert up to one million commercial vehicles to CNG by 2027.

The government has also approved a new price of N230 per liter for CNG and is offering a 50% discount on conversion equipment and free installation to ride-sharing drivers.

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