The federal government has approved Nigeria’s contribution of $2 million to the 2020 budget of the the West African Power Pool (WAPP).
Minister of Power, Saleh Mamman disclosed this to State House correspondents after the virtual federal executive council meeting presided over by President Muhammadu Buhari at the presidential villa.
The specialized pool covers 14 of the 15 countries of the regional economic community (Benin, Côte d’Ivoire, Burkina Faso, Ghana, Gambia, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Senegal and Sierra Leone.
The West African Power Pool was created by a decision at the 22nd Summit of the Economic Community of West African States (ECOWAS) Authority of Heads of State and Government in 1999.
The Articles of Agreement for WAPP organization and function at the 29th Summit of the ECOWAS Authority of Heads of State and Government held in Niamey, in 2006.
According to Mamman, participation in the regional market will generate immediate foreign exchange for Nigeria as oil revenue is dwindling.
Also commenting, Minister of information, Lai Mohammed said: “The West African power pool is made up of all west African countries because each member state contributes annually to the cost of power transmission across the pool because the consequence is that if there is a problem in one country it could inadvertently affect the other country.
During his briefing,the Minister of Information, said council approved over N30 billion for roads in Kano and Lagos, presented by the Minister of Works and Housing, Babatunde Fashola.
It approved the sum of N22,247,332,000 for the award of contract for the reconstruction of the Apapa-Oworonsoki-Ojota Phase Section II, an 8.1kilometer stretch road.