Dr Atiku Abubakar, Deputy Managing Director, Transmission Company of Nigeria (TCN), on Tuesday said about N15 billion was required for the nation to generate 8,000 megawatts of electricity by 2016. Abubakar made this known during inspection of some ongoing electricity projects at the sidelines of a training programme for auditors in Lagos. He disclosed that electricity generation in the country recently improved and attributed it to improved gas supply to generating stations. According to him, we have been able to reach the highest peak so far in July of about 4,652 megawatts while the transmission capacity remains a little above the power generated so far. He said that contrary to other opinions, TCN had the capacity to transmit about 5,300 megawatts of electricity. ‘’As generation is improving, we are expected to expand transmission capacity to be able to evacuate all that is being generated in the stations for distribution. “l can assured that we have our plans, targeting projects that are very critical which have been mapped out so that within the shortest possible time, will be able to hit 8,000 megawatts transmission capacity by end of 2016,’’ he said.. Abubakar said that interested investors who were willing to invest in the transmission segment had been shortlisted, adding that over 30 investors that could deliver on project had been chosen. He said that he would not disclosed the names of the investors now, adding that ‘’we are trying to see that they are capable both technically and financially, because it is expected that they will fund the project’’. “Presently, we are in the process of coming up with the frame work which will enable them to recover their investment in time. “Since Federal Government will not give them sovereign guarantee, we are coming up with modalities of repayment from our billing charges and internally generated revenue for over a period of time,’’ Abubakar said. [NAN]

Any amount dem like make dem spend, as far as say me dey enjoy light as e be now and even if e go kuku stable patapata. Ooonpe nooni.

Signs of good things to come.
With improvement in the power sector many businesses will be given lifelines again.
Better days ahead.
Baba is working
Nigeria is working

FG should pay the cost cos this is the change we want.

“l can assure that we have our plans, targeting projects that are very critical which have been mapped out so that within the shortest possible time, will be able to hit 8,000 megawatts transmission capacity by end of 2016,’’ he said..

The title of the post is misleading. The money is needed for TRANSMISSION and not for GENERATION. Any discerning mind would know that you need a lot more than that amount for generation.

In any case, It is good to know they are already planning to expand our Transmission capacity.

That is small change na. If indeed that is the amount needed to shore up our generation amd transmission to 8,000 MW, then I can start rejoicing.

Only Kuku and former NSA can vomit this 15b sef.

And APC will soon add this as part of their achievement... Promises upon promises

Following on the path of the predecessor

Atiku?? You mean the former vice-president or his relative? I just hope he is not the one in charge of this. 15bn and it is Atiku

If buhari is the cause of this constant power in my area and also my work place. The guy should just die in that position

In another news...

Wailers to accredit this to Jonathan. -WaillingTimes

I pray before 2016 the price of crude oil keep on falling till it gets to 1barrel=$1


Make i see the money wey dem wan use take do am. OIL kill una father.

Make una go back to una farm and produce coco and groundnuts make we use the money solve the N15Bn and N267Bn for cencus.
Ndi-ara

All for oil money head

Just 15bn! What PDP has spent in tye past sixteen years with no commensurate result is much more than 20bn dollars. I will check for the proof and bring it here.

Ciscogod:
If buhari is the cause of this constant power in my area and also my work place. The guy should just die in that position

LOL

Great

dustmalik:

LOL

My bro. Thats just the bitter truth.

I work in a telecommunications ccompany, we all saw the change in power section. We all want the guy to die there or a better person should take over.
Come see my fridge for house na. I dey off am