13 August 2015, Lagos – More than 130 power transmission projects were stalled between 2002 and now due to lack of fund, the Deputy Managing Director of Transmission Company of Nigeria, TCN, Dr Atiku Abubakar, has said.
He said 30 of the stalled projects had been identified to be in need of urgent attention.
Atiku, who spoke on Tuesday during inspection of some of the ongoing
projects and a training exercise of some auditors in Lagos said his company was on the verge of reviving some of the projects to achieve the dream of effective and uninterrupted power supply in the years to come.
He said the TCN has secured the released of some of the abandoned containers with Customs Service and have been distributed to respective projects site in Lagos.
He said: “we are making all effort to ensure that fund is raised outside the
appropriation of government. We have investors who are ready to come into
the country to invest in our schemes.
“We also expects more funding from government to be able to achieve the
mandate set for ourselves on improving on the transmission capacity.”
He further spoke on plans by the the federal government to hit 8000 megawatts in 2016, saying Nigeria needs N15 billion annual investment to be able to meet the target.
*Mohammed Shosanya – Daily Trust