English>

MarketNews

FG Sets Aside $1.61bn for 24-hour Power Supply, Says TCN - THISDAY

OCTOBER 20, 2019

The Managing Director, Transmission Company of Nigeria (TCN), Alhaji Usman Gur, has said that the federal government in collaboration with international donor agencies has set aside over $1.61 billion to ensure constant power supply in the country.

Gur, who is also the Chief Executive Officer of the TCN, revealed this on Sunday in Kano while briefing newsmen at the Kumbotso power sub-station.

According to him, the project will be carried out under the Transmission Rehabilitation Expansion Programme.

 

“We are rehabilitating and expanding to degree 20,000 megawatts by 2022 across the country,” he said.

He noted that the federal government has already earmarked about N32 billion to compensate Nigerians whose lands, houses and farms could be affected by the right-of-way to create power lines for the execution of the project.

“The total amount that we are going to pay for compensation across the country is about N32 billion and the total project cost is $1.61 billion. The project will be supported by various international donors.

“The compensation for right-of-way from Kumbotso sub-station to Zagara will cost about N3 billion. We have not completely validated it. The total cost for compensation across the country is being provided by the federal government, ” he said. (NAN)

SEE HOW MUCH YOU GET IF YOU SELL

NGN
This website uses cookies We use cookies to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners who may combine it with other information that you've provided to them or that they've collected from your use of their services
Real Time Analytics