FG Approves N263 Billion for Power Substations Under Siemens Power Project

The Federal Executive Council (FEC) has approved N262.75 billion (€161.33) for the first phase of the Presidential Power Initiative, also known as the Siemens Project. The project aims to inject 12,000 megawatts of electricity into the national grid. The Minister of Power, Adebayo Adelabu, revealed that the approval follows the 80% completion of the pilot phase. The project involves the engineering, procurement, construction, and financing of 330/132 KV and 132/33 KV substations in five locations: Onitsha, Offa, Abeokuta, Ayede, and Sokoto. The first batch of Phase I includes the upgrade and expansion of 14 brownfield substations and the construction of 21 new substations. The minister also announced the approval of a contract to acquire an office complex for the Nigeria Electricity Liability Management Company (NELMCO) at a cost of N1.7 billion. The project is expected to improve and stabilize the transmission segment of the power sector value chain.