To tame its epileptic and moribund power infrastructure, the Nigerian government said it has entered into a power project agreement with Germany and Siemens AG.
The power project will cover the re-development of Nigeria’s power transmission and distribution infrastructure.
In a statement issued by the Presidency, that President Buhari ‘presided over Signing of Implementation Agreement for the Nigeria Electrification Roadmap(NER), a partnership btw the Nigerian & German Govts & Siemens AG of Germany, to upgrade Nigeria’s Power Transmission & Distribution Infrastructure’
Buhari said the project “will improve investor confidence, create jobs, reduce the cost of doing business and encourage more economic growth in Nigeria.”
As part of the agreement, Siemens alongside the transmission company of Nigeria and other partners will generate 7,000 megawatts of reliable power supply by 2021 and 11,000 megawatts by 2023 – in phases 1 and 2 of the agreement.