21st May, 2014
The Federal Government has earmarked four billion dollars (N640 billion) for the construction and rehabilitation of power transmission infrastructure across the country, Vice-President Namadi Sambo, has said.
Sambo made the disclosure when he received the Vice-President of the State Grid Corporation of China, Mr Cheng Wei, at the State House, Abuja, on Tuesday.
He said vacancy for consultancy services for the project had been advertised. He advised the Chinese company to participate in the exercise by responding to the advertisement.
The vice-president said the Transmission Company of Nigeria (TCN) and the Niger Delta Power Holding Company (NDPHC) were the two companies that would implement the projects, with active participation and supervision by the Ministry of Power.
He, therefore, assured the State Grid of China Corporation of fair competition in the planned transmission projects in the country.
On the Mambila Hydro Power project, which would be executed through Public Private Partnership arrangement, Sambo said 6.4 billion dollars (N1.024 trillion) would be spent on both the transmission and consultancy components of the project
He said government had already provided its counterpart fund of 1.6 billion dollars (N256 billion) for speedy execution of the project.
The vice-president added that government planned to generate 20,000 megawatts by 2018 on completion of these and other projects.
Sambo noted with delight the experience, capacity and the capability of the Chinese company, saying the company was coming at “the right time when Nigeria’s transformation agenda is set to provide adequate power supply to the country.”
In his power-point presentation, Mr Cheng Wei, narrated the capacity, asset, revenue base and accumulated experiences of the Chinese company.
According to him, State Grid of China Corporation has an annual revenue base of about 300 billion dollars and intends to set up a company that will fabricate and eventually manufacture electrical equipment.
“The company is proud of its place in the provision of ultra high voltage technology, Power Grid Construction Field and Transmission,” he added.