Abuja — The Federal Executive Council (FEC) has approved €161,328,228 for the execution of contracts in the first batch of Phase 1 of the Siemens Power projects across Nigeria.
This announcement was made by the Minister for Power, Adebayo Adelabu, during a briefing with State House correspondents following the Council meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja.
Minister Adelabu detailed that the approval covers engineering, procurement, construction, and financing for the upgrade of 331/32 KV and 132/33 KV substations under the Presidential Initiative, commonly known as the Siemens project.
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This follows the successful completion of the pilot phase.
“The Federal Executive Council deemed it necessary to advance this project as promised by President Tinubu during his recent meeting with the President of Germany,” Adelabu stated. The first batch of Phase 1 includes the upgrade and expansion of 14 brownfield substations and the construction of 21 new greenfield substations across the country. Key locations for these upgrades include Onitsha, Offa, Abeokuta, Ayede, and Sokoto.
In addition to the Siemens project, the FEC also approved N1.7 billion for the acquisition of an office complex for the National Electricity Liability Management Company (NEMCO) in Abuja. The office complex, located at plot number 2148, Cadastral Zone, Wuse 1 District, will be purchased outright to avoid escalating rental costs due to inflation.
“NEMCO, established under the Electricity Power Sector Reform Act of 2005, plays a specialized role in ensuring the success of electricity sector reforms. Acquiring this property will help the company meet its expanded mandate and accommodate its growing staff,” Adelabu explained.
These approvals mark significant steps towards improving Nigeria’s power sector infrastructure and ensuring the stability and efficiency of electricity transmission across the country.