Energy Transition

FEC assents to N65.3bn for power projects in 2022

Published

2 years ago

December 24, 2021

The Federal Executive Council meeting has approved N65.39bn in foreign and local denominations to execute power projects in the country.

The Minister of Power, Abubakar Aliyu, disclosed this to State House Correspondents on Thursday at the end of an extraordinary meeting of FEC presided over by Vice President, Yemi Osinbajo at the Presidential Villa, Abuja.

He said the extraordinary session was to ensure the country begins 2022 on a clean slate in the area of electricity supply.

Aliyu who presented 16 memos which were all approved by the council, said the Buhari regime had done more than its predecessors to ensure that Nigerians experience improved electric power supply.

“The FEC approved $65,606,420, €15,152,651 and N31,360,272,397 respectively for the award of contract for the construction of a 2X60MVA 132/33 KVA substation at Ikare-Akoko and 2×132 KV Lines Bay Extension at Oke-Agbe, Ondo State at the cost of $9,9928,912.80 and N2,037,076,700″ he said

He added that this amount contained expenses to cover the supply of 65 Hilux vehicles and 20 SUVs nationwide, the procurement of 1,500 drums of transformer oil and also the supply of 19 Sergi transformer explosion and fire protection devices nationwide.