The Federal Government says it is targeting a $3.07bn overhaul of the electricity transmission infrastructure in the country.
The transmission infrastructure has been described as the weakest link in the country’s electricity supply chain with lines that are aged, failing, dilapidated and in need of replacement.
Even if new invertors finally take over power assets and improve power generation in the country, inadequate transmission infrastructure will hinder complete transmission of power to consumers.
In view of this, the Federal Government, through the Minister of Power, Prof. Chinedu Nebo, gave an indication that $3.07bn would, over time, be spent on increasing transmission capacity in the country.
Nebo was recently quoted as saying that the Federal Government had sourced $1.47bn from the World Bank, African Development Bank, French Development Bank and the Chinese EXIM Bank for the improvement of the electricity transmission infrastructure.
The minster further said that the government would use the proceeds from the sale of the 10 National Independent Power Plants to overhaul transmission networks in the country.
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