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

Hot this week

RMBN Money Market Fund Receives Two-Notch Upgrade to ‘A+’ from Agusto & Co.

RMB Nigeria Asset Management Limited (RMBN AM) has received...

NCDMB, SNEPCo, LADOL Launch Human Capacity Development Programme for Supply Base Services

The Nigerian Content Development and Monitoring Board (NCDMB), in...

NCDMB Hosts Ghana National Oil Coy on Local Content Benchmarking Study

  R-L: Dr. Obinna Ezeobi, General Manager, Corporate Communications, Esueme...

NCDMB’s Oil & Gas Park to Become Operational Q4 2026

The Nigerian Oil and Gas Park Scheme (NOGaPS) at...

Is the Era of the POS Operator Coming to an End?

By Elvis Eromosele Step outside your home in Lagos, Kano,...

Topics

Unity Bank Introduces USSD in Nigerian Languages

Unity Bank Plc has launched an Unstructured Supplementary Service...

De-dollarization: Not So Fast—What it Means for Africa

  Aboubakr Barry, CFA Managing Director Results Associates Bethesda, MD Why Must...

PenCom: Pension Assets Hit N17tr in June 2023

The National Pension Commission (PenCom) has put pension assets...

Sustained Sell Offs Pull YTD Return into Negative Region… NSE ASI Down 1.3%

Sustained sell offs in the local bourse, which have persisted...

S&P: Sub-Saharan African Sovereign Commercial Loans to Fall 20% in 2016

American rating agency, Standard & Poor’s indicated in a...

NGX Group Chair: AI Will Enhance Efficiency in the Nigerian Economy

L-R:  Thaibat Adeniran, former Managing Director, Hilal Takaful Insurance...

AMCON Acquired N3.7tr NPLs, Injected N2.2tr into 10 Banks

The Asset Management Corporation of Nigeria (AMCON) has so...

Actions Taken by NCDMB Towards Addressing Sterling Oil’s Non-Compliance Issues

The Nigerian Content Development and Monitoring Board (NCDMB) has...
spot_img

Related Articles

Popular Categories

spot_imgspot_img