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Federal Government of Nigeria Announces $170m Loan from the French to Improve Power Supply

Federal Government of Nigeria Announces $170m Loan from the French to Improve Power Supply

The Federal Government has announced a loan of $170 million gotten from the French Development Agency, FDA, to be used to facilitate the transmission of transformers from Siemens under the Presidential Power Initiative, PPI, in the Federal Capital Territory, Abuja.

This was made known to the public by the Minister of Power, Engr. Abubakar Aliyu, at the inspection of the transmission projects in the FCT, this weekend.

According to Aliyu, the federal government was ever ready to improve the transmission capacity of the Transmission Company of Nigeria, TCN, with an extra 1000MW through the planned Abuja Ring Project.

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Meanwhile, Aliyu noted that the projects were majorly made up of lines and substations. He then disclosed that some engineers would be traveling to France before the end of November 2022  to do a factory test on some transformers.

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