TCN GETS $2 BILLION TO RAISE TRANSMISSION TO 20,000 MW

KANO, Nigeria – The Transmission Company of Nigeria (TCN) says it has secured about $2billion for the expansion of transmission lines to 20, 000 megawatts in the next three years.

Managing Director, TCN, Usman Gur Mohammed, made the revelation at power sector stakeholders meeting presided over by the Minister of Power, Works and Housing, Babatunde Fashola in Kano.

According to him, TCN got the fund through the ministries of Finance and Power and that the fund was raised from the World Bank, African Development Bank, Islamic Development Bank, Japanese Agency for International Cooperation (JAICA), and the European Union.

“Last week, we advertised for transformer capacities for Kano, Kaduna, Lagos, and Shiroro regions. These are part of the projects we have been able to raise from the multilateral regions, and the total capacity we are working towards achieving is 20,000 megawatts in the next three years.

“We have also restarted some projects that had not been doing well like the Abuja Transmission Ring Project, which is supposed to put three substations within the capital territory, and provide another avenue for supply from Lafia.

“We have also resuscitated the JAICA project that had been on the drawing board for a long time. Those two projects plus the project that we are going to raise now is about $1.55billion,” he said.