Minister of Power, Chief Adebayo Adelabu, has revealed that the Transmission Company of Nigeria (TCN) requires approximately N2.8 trillion to execute 149 projects aimed at improving electricity transmission across the country.
During his appearance before the National Assembly’s power sector committees to defend the Ministry of Power’s 2025 budget proposal, Minister Adelabu emphasized the critical need for these investments to address the nation’s persistent power challenges.
“For the TCN alone, we will need about N2.779 trillion to enable us to execute about 149 projects we are currently engaged in all over the country,” Minister Adelabu stated, acknowledging the significant financial resources required to achieve the government’s goal of improving electricity supply to Nigerians.
Furthermore, Minister Adelabu announced the imminent commencement of the second phase of the Siemens power project under the Presidential Power Initiative, following the successful completion of the pilot stage.
“The Federal Government is fully determined to address these challenges and issues that have been blocking our progress in our effort to provide electricity to Nigerians and our consumers. Of particular note is the grid collapse, which has to do with the obsolete and outdated equipment around our power stations,” he said. “To practically address this, the Siemens project will come on board in the first quarter of this year. We have almost concluded the take off of the project and it will involve building five substations across the country. This will energize our supply so that the issue of grid collapse will be a thing of the past. By next week, we will begin the contracts for the substations to come on board.”
The Siemens project is expected to play a crucial role in modernizing Nigeria’s power infrastructure and improving the reliability of electricity supply across the country.
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