German engineering firm Siemens is now looking to boost power generation capacity in Nigeria to 25,000 megawatts in the next five years after President Buhari approves funding for the first phase of Siemens power deal on Wednesday.
In 2019, the Nigeria government signed a six-year power deal with German energy giant Siemens to boost generation capacity to 25,000 MW.
What is Nigeria siemens electricity deal?
The comprehensive concept for the development of the energy sector of Nigeria, to secure reliable and affordable electricity supply Scope includes rehabilitation, upgrades and expansion of transmission and distribution networks and power generation in the country.
Phase 1 is focusing on essential and quick-win measures to increase the system`s end-to-end operational capacity to 7,000 MW.
Phase 2 is targeting remaining network bottleneck`s to enable full use of existing generation and distribution capacities, bringing the systems operational capacity to 11,000 MW.
Phase 3 is developing the system up to 25,000 MW in the long-term.
How much did Buhari approve on Siemens electricity deal?
The allocation is worth more than 60 billion nairas. On Thursday the 27th of May President Buhari approves funding for the first phase of Siemens power deal.
