TCN Requires N2.779trn To Execute 149 Projects

In tackling the electricity challenge facing the country, the Transmission Company of Nigeria (TCN), will require about N2.779 trillion to execute its 149 projects that are scattered across the country, many of them at different stages of completion.

Minister of power, Adebayo Adelabu, who made this known, also confirmed approval to commence the second phase of the Siemens power project under the Presidential Power Initiative.
Adelabu disclosed this when he appeared before the two chambers at the National Assembly for the ministry’s budget presentation.

According to him, the project was at 95 per cent completion of the pilot stage in 2024, adding that it will energise the power supply through the construction of five substations across the nation and permanently address the issue of grid collapse.

“I am happy to appear before you today to address you on what we have been able to achieve last year and what is expected of us as a ministry this year.

“The federal government is fully determined to address these challenges and issues that have been blocking our progress in our effort to provide electricity to Nigerians and our consumers. Of particular note is the grid collapse, which has to do with the obsolete equipment around our power stations.

“To practically address this, the Siemens project will come on board in the first quarter of this year. We have almost concluded the take-off of the project and it will involve building five substations across the country. This will energise our supply so that the issue of grid collapse will be a thing of the past. By next week, we will begin the contracts for the substations to come on board”, Adelabu said.

Speaking further on the Siemens project, Adelabu said, the substations to be built across the country, would address the nation’s fragile power infrastructure, occasioned by obsolete and outdated equipment.

Adelabu also informed that “For the TCN alone, we will need about N2.779 trillion to enable us to execute the about 149 projects we are currently engaged in all over the country. Our total budget as a ministry is not even up to this but as the saying goes that half bread is better than none. I’m telling you so that you can be aware of the kind of money that is needed in the ministry for us to address our electricity challenges. We need your cooperation and collaboration in achieving the mandate of Mr President in electricity supply to Nigerians”, the minister said.

He also informed the lawmakers of the need to address the issue of vandalism as it concerns the electricity assets across the country.

“One other critical thing I want to draw your attention to is the issue of vandalisation as it concerns our assets. We must sensitise our people against this act. We must be involved in serious advocacy on this issue. We must jointly address the issue of protecting the power assets. Damage to one is damage to all, especially the transmission assets because they’re interwoven.

“In this case, we need the cooperation and collaboration of all our security agencies. But more importantly, we need the cooperation and collaboration of the office of the national security adviser.

We are not just dealing with those who steal cables but bandits, who use dynamite to blow up towers and transmission lines. There is no amount we can vote for this either as a ministry or in TCN that can solve this. Our transmission line from Shiroro – Mando – Kaduna which was attacked by these bandits, and which we are yet to put back, was done in a manner as if we were in a war situation. We did not budget for what was spent to put what we could together.

How do we manage the protection of these assets? This must be our joint concern, so we are calling for your cooperation and collaboration in addressing this security challenge facing us in our power assets”, the minister said.

The minister also disclosed that the ministry will be working with local contractors in their procurement plans for the year.