Print this page
Thursday, 11 May 2017 11:08

Nigeria secures $1.5B to expand national transmission grid

Image for illustrative purposes Image for illustrative purposes

The Transmission Company of Nigeria (TCN) has secured about $1.5 billion from donor agencies to finance power transmission projects in Ogun State and other parts of the country.

According to the company’s managing director, Usman Gur Mohammed, the funds will be used to for building substations that will help expand the nation's transmission capacity, reports ESI-Africa.

To realize the expansion of the transmission grid, Mohammed stated that TCN will need active collaboration of the state governments especially in the area of acquiring additional lands and payment of compensation to people who may be displaced for this reason.

The future of TCN also has to be decided as the company faces three possible scenarios: full privatisation, concessions or management contract, as the national grid might be split up into various entities.

Source: ESI-Africa

 

Additional Info

  • Continent: Africa
  • Category: Business