Nigeria Plans 2,000 MW Power Capacity in 2016

The Nigerian government has unveiled plans to install 2000 MW of additional power plants in the country this year. This was announced by the Minister of Power, Babatunde Raji Fashola in Abuja.

Fashola said: “It is possible. I believe we can do it if we can implement the right methodology”.

During budget defence of his ministry before the Senate Committee on Power and Mines, the Minister said the national power industry was undergoing changes that would gradually lead to its independence in the nearest future.

He added that a major part of the 2016 budget would be directed towards the completion of various on-going power projects in the country and also expansion of the national transmission grid.

At the recent COP 21 event, Nigeria made concerted efforts to inject additional 13,000 MW to its power capacity through off-grid power plants.

spot_img
spot_img
spot_img
spot_img
spot_img

Hot this week

Cardoso, Okonjo-Iweala to Headline 7th Africa Emerging Markets Forum in Abuja

A high-level fireside dialogue between the Governor of the...

Stanbic IBTC Named Winner in Four Categories at Euromoney Awards for Excellence 2026

Stanbic IBTC, a member of Standard Bank Group, was...

NGX Group Delivers Record First-Half Performance, Announces ₦1.30 Interim Dividend

Revenue rises 118% as profit before tax increases 170%,...

DataPro: Beyond the Balance Sheet: A Thorough Approach to Ratings

“In today’s complex financial world, your creditworthiness is your...

NAICOM Pledges Support for Lagos State Building Insurance Scheme

Keynote Address by Mr. Olusegun Ayo Omosehin, Commissioner for...

Topics

Japan to Support 50m Tonnes Rice Production in Africa

The Sasakawa Association will work with the Japan International...

PenCom Targets N3tr, 20m Workers from Micro Pension

The National Pension Commission (PenCom) is set to launch...

Stanbic IBTC Bank Rewards 78 Savers with ₦16m in 6th Monthly, 2nd Quarterly Draws

Stanbic IBTC Bank remains committed to putting smiles on...

World Economic Forum Postpones 2022 Annual Meeting over Omicron Outbreak

The World Economic Forum will defer its Annual Meeting...

Moniepoint Seeks More Investment in STEM Education in Nigeria

L-R Board Member, Tosin Eniolorunda Foundation, Oyinlola Eniolorunda; Israel...

Magna Carta Wins African PR Consultancy of the Year

Reputation Management agency, Magna Carta, won the Africa PR...

Centre for Financial Journalism Launched in Nigeria

The Centre for Financial Journalism has been launched...
spot_img

Related Articles

Popular Categories

spot_imgspot_img