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Govt to assist TCN access funding for power projects

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Fashola-25-02-15

Fashola

The Federal Government has reiterated commitment to assist Transmission Company of Nigerian (TCN) in accessing long-term expansion funding, including the proposed transmission development fund, and other International development funds from banks and multilateral agencies.

The Permanent Secretary, Power, Louis Edozien, said that these funding matrixes were to ensure a reliable transmission network system capable of conveniently wheeling up to 10,000Mw of produced power in the short and medium term, as well as providing a solid foundation for future growth of the sector.

He stated that the ministry would undertake pre-feasibility studies for remote and off-grid location that would incorporate their commercial frame work for their establishment utilization.

According to him, with the concrete result shown by privatization in this short while, it has shown clearly that Government alone cannot develop the Power Sector, but with shared responsibility with the private sector, more successes would be recorded.

He reiterated that in spite of testament of visible achievements recorded in the sector, owing to Government’s commitment to the development and reform, immense opportunities to develop investments still remains untapped.
The Permanent Secretary, who was represented by Engr. Abayomi Adebisi, said this administration has shown singular leadership and initiatives in ensuring that Nigeria leap frogs in its quest to achieving its dream of becoming one of the best economies in the world by the year 2020.

“The Perm. Sec. rolled out a list of recorded mile stone achievements and indeed the defining future movements within the context of the new Private Sector led Power Sector, which includes the establishment and implementation of a Renewable Energy and Energy Conservation Policy, embedded with coal to power.

“The on-going reform of the Ministry is to equip itself with the right competitiveness and capacity to handle policy issues as well as ensuring conducive and enabling environment for investment in power. In addition, Government’s agenda in the times ahead is the already commenced divestment by the Niger Delta Power Holding Company (NDPHC), holdings in the Power generating assets in the National Integrated Power Projects (NIPP).

Abubakar Atiku, an engineer and the Deputy Managing Director of Transmission Company of Nigeria, (TCN) at the event, stated that, “we can deliver 6,000Mw without overloading the system”

He said TCN since 2002 has embarked on on-going projects aimed at expanding the wheeling capacity of the system, describing some of those projects as critical to ensuring grid stability.

Atiku bemoaned paucity of funds in the 2015 appropriation, where only N1 billion was provided for TCN. In order to bridge this funding gap, TCN is exploring external funding sources to complete some of its ongoing projects.

Various other sector Players spoke at the event. For instance, Engr. Ken Achimugu, Managing Director, Rural Electrification Agency enjoined Discos to play its role and key into the already completed REA Projects describing the agency as socio economic agency created to address electricity needs of the rural poor.


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