OpeOluwani Akintayo
Lagos — The Federal Government and Siemens have signed the pre-engineering phase contract for the 25, 000MW Presidential Power Initiative, PPI project.
The award letters were signed last Thursday by Siemens Energy Nigeria and FGN Power Company, and witnessed by the Chief of Staff to the President, Prof. Ibrahim Gambari; the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed and the Minister of Power, Mr Saleh Mamman.
The pre-engineering stage of the project comes following signing of agreement letter on the Nigerian Electrification Roadmap, now Presidential Power Initiative by the duo in July 2019.
This stage of the project allows Siemens to begin the pre-engineering scope which includes engineering design works, specifications for onshore installation, commissioning works for the transmission and distribution systems, network development studies, power simulation, training, and support services.
With the project, the federal government targets ramping up the country’s power generation to 25,000 megawatts in six years.
Siemens sees market value of energy spin-off above £15 billion – source
Towards this end, the Federal Executive Council had on July 29, 2020, approved the payment of €15.21m (N6,940,081,465.20) offshore and N1.708bn onshore as part of Nigeria’s counterpart funding for the power deal.
“This award enables Siemens AG and Siemens Energy to drive forward this mega project, which will upgrade the electricity network to achieve operational capacity of 25,000 megawatts from the current average of around 4,500 MW, through a series of projects spanning three phases,” a document obtained by SweetcrudeReports said.
