The Federal Government needs N15bn annually to generate 8,000 megawatts of electricity in three years, the Transmission Company of Nigeria has said.
And for a space of three years, the country would need a total of N45bn to achieve the feat, it stated. The Acting Managing Director, TCN, Dr. Atiku Abubakar, disclosed this in an interview session with newsmen. To this end, the TCN said it would be engaging 30 local and foreign investors in its bid to raise the funds, which would aid the expansion of the country’s power transmission infrastructure.
The company said it would be engaging the investors in its financing scheme as their capabilities in terms of technology and finances had been duly ascertained. Abubakar said, “The country will need to invest N15bn within two to three years to achieve 8,000MW. We have shortlisted them and now we are building the framework for repaying the investors.” Read more