FG to decentralise national grid, invest $550 million to improve power supply

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President Muhammadu Buhari has disclosed that steps are being taken to improve Nigeria’s power supply despite constraints and bottlenecks which have seen multiple incidents of grid failures.

He stated that Nigeria is decentralising the national grid through renewable-driven mini-grids and also once signed into law the constitutional amendment bill will allow state governments to generate and transmit their own electricity.

In an interview with Bloomberg oon Tuesday, President Buhari said the Federal Government had earmarked $550 million to provide 20,000 Standalone Solar Systems (SHS), as well as Solar Hybrid mini-grids in over 250 locations.

He stated:

“We are also decentralising the national grid through renewable-driven mini-grids.

“The 550 million dollar Nigeria Electrification Project has deployed more than 20,000 Standalone Solar Systems (SHS), as well as Solar Hybrid mini-grids in over 250 locations.”

He added:

“Take my Presidential Power Initiative (PPI), a government-to-government initiative between the Governments of Nigeria and Germany, with Siemens AG, to upgrade the electricity grid with a 2 billion dollar investment.

“Once signed into law the constitutional amendment bill – recently voted through parliament – will allow state governments to generate and transmit their own electricity, further facilitating investor participation in our market and enabling states and local businesses to transmit excess supply to the grid.”