By Oke Peter
The Presidential Power Initiative has set aside a total of $118 million to improve lines infrastructure along the Benin and Enugu corridors.
FGN Power Company, Managing Director, Mr. Kenny Amuwe, disclosed this yesterday at the agreement signing ceremony between FGNPC, Elsewedy Electric and Power China EP.C in Abuja.
He said: “So what we’re doing here today is basically kicking off the activities of the implementation arrangements that we’ve been working very hard in the background to do over the past year and a half or so. What is the cost of this? It’s just over $118 million.”
He said, Mr. President has soft spot for the eastern part of Nigeria hence industries in such axis must be revived.
He added that the project which cannot be overemphasized will cover over 2,683 kilometers in the region.
The Minister of Power, Adebayo Adelabu while speaking in Abuja on the occasion said the agreement is a testament to the preparedness of the Federal Government to quickly accelerate the upgrade of transmission infrastructure in the Nigerian Electricity Supply Industry (NESI).
According to him, it will ultimately achieve the stability that is being craved for in electricity supply to households in Nigeria.
He noted that the initiative will enable the country achieve exports processing and promote exports for increased earnings for foreign exchange while reducing pressure on foreign exchange that will require for importation of goods and services that we consume here.
Adelabu said: “We believe that with a very strong and resilient power sector, the industries will be energized and we have more of our people being engaged in productive activities.
“We’ll be able to also energize our health and educational institutions to run properly, and also boost the fortunes of our MSMEs, the small and medium scale enterprises, while agri-processing to achieve food security will also be on the eye, while rail dwellers will not be hiding, they
will be engaged in productive activities, and to also achieve the targeted energy access expansion for our people, from the current penetration of less than 52per cent to as high as 80 to 90per cent in the years to come.”
