The Federal Government has signed a Memorandum of Understanding (MoU) with France to undertake studies in the nation’s electricity transmission, distribution and design network.
The study would be carried out under the auspices of the Transmission Company of Nigeria (TCN).
Mr Jean Paul-Mairesse, the Chief Executive Officer of the Electricity Company of France (EDF), who signed on behalf of his country, said that France would provide the 200 million Euro needed to fund the study.
He said that when the study was completed, the French government would also provide the fund required to execute the challenges discovered in the system.
Paul-Mairesse said that the TCN would advise on where the studies would be carried out.
He noted that the project was initiated in 2008 but had not been effective, adding, however, that ``because of the new government in France now, I cannot say exactly when it will take-off fully.
``But when the new government in France must have taken full shape, operations would start.''
The EDF, he said, had been operating in some African counties such as Zambia, Mozambique, Kenya, Ethiopia, Sudan and Egypt.
Paul-Mairesse stated that it was the desire of the company to assist Nigeria in the energy sector development, stressing that this would fast track Nigeria’s industrial development.
Earlier, the Minister of Power, Prof. Bart Nnaji, had expressed gratitude to the French company for the gesture, adding that the Federal Government would give the company all the assistance required.
He cited other companies such as General Electric and Siemens that were investing in the generation of 10,000 mega watts of power each in Nigeria.
Nnaji, who signed the MoU on behalf of Nigeria,said the country has favourable investment conditions that would help any company both foreign and local willing to invest in any sector.