Federal Government of Nigeria has signed electricity road map agreement with German-based Siemens at the Presidential Villa, Abuja.
The deal is the product of a meeting President Muhammadu Buhari held with German Chancellor, Angela Merkel on August 31, 2018.
Buhari, who held talks with Siemens CEO Joe Kaeser in Abuja said the government goal is simply to deliver electricity to Nigerian businesses and homes.
The president challenged Siemens, Nigeria partner investors in the Distribution Companies, the Transmission Company of Nigeria and the Electricity Regulator to work hard to achieve 7,000 megawatts of reliable power supply by 2021 and 11,000 megawatts by 2023 – in phases 1 and 2 respectively.
After these transmission and distribution system bottlenecks have been fixed, we will seek – in the third and final phase – to drive generation capacity and overall grid capacity to 25,000 megawatts.
“Our intention is to ensure that our cooperation is structured under a Government-to-Government framework. No middlemen will be involved, so that we can achieve value for money for Nigerians. We also insist that all products be manufactured to high quality German and European standards and competitively priced” , said Buhari
He expressed confident that the partnership has the potential to address a significant amount of the challenges in the power sector.
“We all know how critical electricity is to the development of any community or indeed any nation. And in Nigeria, whilst we are blessed to have significant natural gas, hydro and solar resources for power generation, we are still on the journey to achieving reliable, affordable and quality electricity supply necessary for economic growth, industrialization and poverty alleviation”.