28 December 2013, Abuja - The Transmission Company of Nigeria, TCN, has been allocated the largest share of total budget proposed for the power sector, a breakdown of the 2014 budget proposal has shown.
With a total budget proposal of N62.4 billion allocated to the sector, TCN is allocated N24.9 and closely followed by the supervising ministry which got N21.8 billion.
With the massive increase expected in power generation which is projected to hit 10,000MW in 2014 and 20,000MW by 2016, government has emphasised the need for a robust transmission grid, as the grid currently remains a weak link with a wheeling capacity of about 4,800MW.
According to the federal government, about $3.4 billion is required up to 2016 to bring the transmission grid to be able to evacuate all generated power.
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