Wednesday, May 6, 2026
32.1 C
Lagos

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

Hot this week

Mutual Benefits Bags Double Honours at 2026 NIA Awards Ceremony

Mutual Benefits Assurance Plc has recorded a significant milestone...

Mutual Benefits Restates Commitment to Responsible Corporate Practice

Mutual Benefits Assurance Plc has reaffirmed its long-standing commitment...

Stanbic IBTC Redefines Home Ownership in Nigeria with 450 Homes Disbursed

Stanbic IBTC is strengthening its position as a trusted...

Why Botswana Has the Best Sovereign Rating in Africa

Sovereign credit strength across Africa is concentrated within a...

emPLE Nigeria Paid over N7bn Claims to Support Individuals, Families, Businesses in 2025

emPLE, one of Nigeria’s rapidly growing insurance companies, has...

Topics

Stanbic IBTC Capital: Best Investment Bank in Nigeria-EMEA Awards 2022

Stanbic IBTC Capital, the investment banking subsidiary of Stanbic...

Huawei Reports $5.7bn Profit in 2O15

China's Huawei has reported a one third jump in...

U.S., EU Reach Insurance Regulation Agreement

United States and European Union negotiators say they have...

NDIC CEO Seeks Inclusion of Deposit Insurance Courses in ICAN Programs

Mr. Bello Hassan Managing Director/Chief Executive Nigeria Deposit Insurance Corporation (NDIC) The...

Market Statistics: Wednesday, 8th November 2017

Market Cap (N'bn)                12,853.7 Market...

FOR THE RECORD

ACCEPTANCE SPEECH BY THE NEWLY ELECTED CHAIRMAN OF THE...

Africa-Singapore Business Forum for August 24

The premier platform for fostering investment, trade and...
spot_img

Related Articles

Popular Categories

spot_imgspot_img