Not less than 1000 Mega Watts will be added to the transmission capacity of the Transmission Company of Nigeria (TCN) when 53 power projects across the country are completed by May 2024.
This assurance was given by the TCN’s Programme Coordinator in charge of the projects, Mathew Ajibade, who visited three sites of the projects at Ojo, Isolo, and Oworonshoki Transmission stations in Lagos on Wednesday, 6 December 2023.
The projects worth N122 billion are being carried out by the TCN and power distribution companies in collaboration with the Central Bank of Nigeria (CBN).
Nigeria currently has a 13,000MW installed capacity but can transmit only 8,500MW as indicated by the TCN recently. However, power generation as observed on the national grid hovers between 4,000MW and 5,000MW.
Speaking on the ongoing power projects, Ajibade, who denounced claims that they have been abandoned said: “The projects are currently being implemented through the project management office at the TCN headquarters in collaboration with both TCN field engineers and the Discos technical team.
“The time set for completion of the projects is May 2024 latest. PMO made progress with the implementation of the programme despite challenges encountered and is committed to ensuring the successful implementation.”
Also speaking during the project sites tour, Assistant Director/Head Infrastructure Finance Office, CBN, Tumba Tijani, mentioned that the apex bank offered a loan for the project at a 9 per cent interest rate in August last year.
“The CBN in continuation of its intervention in the power sector approved the sum of N122, 289, 344 for the programme Nigeria Electricity Market Stabilisation Facility-3 based on the projects estimated for the identified projects. The facility aims to resolve the transmission/distribution interface bottlenecks to improve supply to end users and unlock the unutilised generation capacity in the country,” Tijani said.
The transmission arm has since privatization of the power sector in Nigeria remained under the control of the government. Even with the new Electric Power Act which grants states and individuals the right to generate electricity upon meeting certain requirements, the TCN still handles transmission.
With the call for improvement of power supply in the country, the government has continued to promise to make investments in the infrastructure.