FG to borrow $200m from Japan for power expansion | NN NEWS


Must Read

People are hungry, Mr Speaker; There is nothing to celebrate – LP lawmaker declares

Labour Party’s Lilian Orogbu, a representative of the Awka...

Benue State Assembly stop lifetime pension for Ortom, Suswam others

The Benue State House of Assembly has rescinded the...

Opposition is gathering, but they will scatter – Gov Otti

Abia State’s Governor, Alex Otti, has affirmed his administration’s...

The Federal Government, yesterday, disclosed  its plans to borrow  $200 million from Japan International Co-operation Agency (JICA) to support the power expansion programme in Lagos and Ogun states.

The fund, according to the Minister of Power, Abubakar Aliyu,  is to provide about 203KM high voltage transmission lines and six high voltage sub-stations which cover five local governments in Ogun State and one local government  in Lagos State with appropriately 200 communities affected.

“The Transmission Rehabilitation and Expansion Programme which would be carried out by the Transmission Company of Nigeria (TCN) through a loan of $200 million to  be obtained from the Japan International Co-operation Agency  is to provide about 203KM high voltage transmission lines and six  high voltage substations which cover five local governments  in Ogun State and one local government  in Lagos State with appropriately 200 communities affected”, the Minister said.

Aliyu, who disclosed this when he received a  delegation from JICA in Abuja, added  that  part of the counterpart funding  would be used to compensate affected persons around the corridor.

“The counterpart funding for compensation of Project Affected Persons (PAP), consultancy services for line route studies, environmental and social impact assessment, environmental social management plan for the proposed JICA transmission projects in Lagos and Ogun states is reflected in the 2021/ 2022 appropriation of the Ministry”, the minister  stated. He, however, expressed the delight of the Federal Government on the co-operation and assured JICA of President Muhammadu Buhari’s resolve to ensure that  best practices are applied,  particularly to infrastructural development in the electricity supply industry in Nigeria, noting that transmission is a major stake of government which is targeted at raising operational capacity to an appreciable level particularly at areas where industries are rapidly expanding.

Earlier,  Senior Representative, Japan International Cooperation Agency, Nigeria office  and team lead, Sasaki Taigo, had  said that  their mission was to confirm the content of loan agreement and project memorandum of the Lagos and Ogun power transmission system improvement project with relevant ministries and implementation agencies among others. He added  that  meetings with relevant authorities would commence with the aim of having the loan agreement signed in March, 2022. (The Sun)

Follow us on social medias platform – Twitters – NN News – NN News Team – Facebook pages/group – NN News – NN News Team – NN News Group

Comment on the article for thoughtful opinions will count. NN News will remove threats, harassments and other violations. If you’re having issues with commenting, please let us know.


Latest News


Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!