Friday, May 8, 2026
26.3 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

Stanbic IBTC Reinforces Leadership in Trade Finance at GTR West Africa 2026

L–R: Seun Ogundolapo, Head, Trade, Transaction Banking, Stanbic IBTC...

CIIN Unveils Programme for Insurance Week 2026

The Chartered Insurance Institute of Nigeria (CIIN) has rolled...

The Machine Era of Spam: Nigeria is Africa’s Most Spammed Country

A phone call used to mean a person on...

Mutual Benefits Bags Double Honours at 2026 NIA Awards Ceremony

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

Topics

Access Bank Partners NYSC to Promote Entrepreneurship with N30m Grant

Access Bank Plc, through the Accesspreneur program in partnership...

Why Investors Will Buy Fidelity Bank’s Offers–Capital Market Stakeholders

Fidelity Bank Plc started its N127.1 billion combined rights...

Emirates Hosts Top Abuja Travel Agents, Senior VP Restates Commitment to Nigeria

Emirates Senior Vice President, Badr Abbas and Paulos Legesse,...

Olam Partners MIT Solve for Sustainable Food Systems Solutions

      (L-R) Damilola Adeniyi, Corporate Affairs Manager, Olam Nigeria; Sharon...

FG Commends Waltersmith Refinery, NCDMB for Improving Domestic Refining Capacity

L-R: The President Waltersmith Group; Mr. Abdulrasaq Isa, Managing...

Nigeria Airways: Murdered in Cold Blood 12 Years Ago by Government! Obasanjo Part 2

In Pages 109, 110 and 111, IFC further gave a deft analysis of the consequences of Liquidation, some of which include: (i) Less likelihood of strong national carrier from “survival of the fittest local strategy; (ii) Disorderly development of air transport market: increases of financial cost from collapse of several domestic carrier; (iii) Great likelihood of worsening safety records in Nigeria; (iv) Increased reliance on foreign carriers, among others. (v) Nigeria would most unlikely not develop into a regional hub.

CBN: RT200 FX Policy Drives Rapid Increase in Export Remittances

The introduction of the “Race to $200 Billion in...

Nigeria to Unveil National Single Window Platform March 27

Nigeria will launch the highly anticipated National Single Window...
spot_img

Related Articles

Popular Categories

spot_imgspot_img