Federal Govt Set To Partner With German Companies For Stable Power Supply In Nigeria
Posted on November 30, 2023
President Bola Ahmed Tinubu has stated the readiness of his administration to partner with German companies for stable electricity supply in Nigeria at the G20 compact and African Economic Conference.
The German Chancellor, Olaf Scholz met with the President Tinubu and suggested the need to handle administrative and financial challenges for stable electricity in Nigeria.
P.M.EXPRESS reports that Scholz stated that there is a huge production of electricity in Nigeria but it is not getting to a good number of population and there is the need for the provision of stations and infrastructure on the grid that can help out with the challenge.
He also stated: “Siemens has developed the plan and is ready to deepen implementation, but it is now up to your new government to take the follow-up action that you are now committed to taking. On the railway plans, Siemens will be very happy to do this when more progress is made on the power project which has been started already.”
In the same vein, Tinubu said the Federal Government under his administration was eager to partner with German companies, such as Siemens AG, to reform Nigeria’s power sector.
In 2018, Former President Muhammadu Buhari established the Siemens-backed Presidential Power Initiative (PPI) as an attempt to resolve the lingering challenges in the power sector and to expand the capacity for future power needs.
President Tinubu, however, remarked that there was the need for an assessment of the initiative to ensure the speedy execution of targeted projects in the power sector.
According to him, Siemens AG has positive impacts on the quantity and quality of Egypt’s electric power supply.
He assured of the readiness of his administration to ensure that the implementation of the PPI would now proceed with increased urgency and a more deliberate approach to project execution.