The Federal Government on Thursday sealed a pact of $11m (N2.17bn) with the Japanese Government for an emergency improvement of electricity supply facilities in Abuja.



The project to be implemented by the Japanese International Cooperation Agency and the Ministry of Power is aimed at procuring and installing power capacitor banks at the existing two sub-stations in Abuja and neighboring Nasarawa state.



This, according to the agreement, would decrease the transmission loss and assist in stabilizing power supply to approximately 7,000 households within the Federal Capital Territory.



The Minister of Budget and National Planning, Senator Udo Udoma, signed the pact on behalf of the Federal Government while the Ambassador of Japan to Nigeria Sadanobu Kusaoke, signed on behalf of his country.



Speaking at the event, Udoma said the pact marks the process for effective implementation of the electricity supply facilities grant project by the Japanese government.



He noted that the project has been designed to support Nigeria in promoting social-economic and infrastructural development.



He said, “The sustained implementation of this project is expected to pave way for a significant access to quality socio-economic services, thereby leading to reduction in unemployment in the country and promoting community empowerment.



“The Federal Government remains committed to working closely with various stakeholders in the economy to achieve sustainable economic development.



“This ministry will ensure that we create an enabling environment required for the sustainability of this partnership.”



When asked by journalists how a padded budget was sent to the National Assembly without the ministry detecting the figures, the minister replied that such occurrence was not unusual with budget proposals.



He said the issue is currently being discussed with the National Assembly and would soon be resolved.



He said, “It (padding) is normal in a budget process. Proposals are presented, sometimes issues are on and they are sorted out. So it’s fairly routine and it shouldn’t be over emphasized.



“These are routine things which are resolved as they come up and so it’s not an issue and we are discussing amicably with the National Assembly.”



In his remarks, the Japanese envoy said Nigeria’s power sector had been one of the priorities in Japan’s development cooperation in Nigeria.



He said, “Power sector is a key to improve the quality of life for people and also to promote industry.



“Power supply is one of the determinant factors when both domestic and foreign investors decide whether or not to invest in the county.

“Our mantra is to accelerate Nigeria’s economic development by helping attract more investments by improving power sector.”



He assured that the power supply project would make the FCT more attractive to investors as well as residents living in the nation’s capital.

http://www.punchng.com/fg-seals-n2-17bn-electricity-supply-pact-with-japan/

Put all that money in transmission facilities.

Good

Is this soppose to be a news?
Are u giving us hope?

Hope they will not embezzle it

Say by who? I can bet that 50% of the money will be embezzle. A cabinet that cant defend their budget

Ephemmm:


'chop-make-I-chop-era' don pass: be optimistic bros.

God bless Nigeria

Oma307:
Say by who? I can bet that 50% of the money will be embezzle. A cabinet that cant defend their budget

How much % Gej chop insude the billions budgeted on power ? Did I hear you say 98% ?

By the time I start reading comments I will know what the message is

If it was under the last administration

Jonathan would have divided the money into two, instruct the CBN to disburse it

Ngozi will sign it off

Dasuki will distribute it

Thank God for change

Allah

Let them see to it that this project is executed and not just a paper work.

Okay, waiting for this government to still give excuses after this

Electricity is our biggest problem, nice to see govt giving priority to it.
This is what we need not talks about " High Energy Biscuits ".

good

Hmmmmmm

Does it mean we will have stable and cheap electrical supply? Or what is all these English and mentioning of this huge funds abt? Forget all these stuff and just supply us stable electricity. I don't av light in my area for over a week now.. Na yam? Talk d one way go sweet me joor. Upon all these no light issue, dem still dey add money on top NEPA money. Ewu pple.

That's a nice step by the FG, hope they won't embezzle half of the money....and meanwhile FG should do something concern this issue of dollar raising everyday, is affecting the price of import goods.

good 1

Great move

BUHARI PROBLEM

am lovin tis

Every year we hear news about electric this electric that. But what's is still what's. Poor electric supply. Tell us new news

ok

Japan... At Last

Have you also signed pact for transfer of technology?

Or we are always the cash cow

Abuja and Nasarawa,mtcheeeww

We shld hav steady supply befor high d fees,Fashola takenote

asEdeyHOT:
If it was under the last administration
Jonathan would have divided the money into two, instruct the CBN to disburse it
Ngozi will sign it off
Dasuki will distribute it
Thank God for change

don't count ur chicken before they are hatched

Ephemmm:
'chop-make-I-chop-era' don pass: be optimistic bros.

God bless Nigeria

Na yam eating era na im we dey, nor be so


www.nairaland.com/attachments/3206894_tmp30566fbimg1450529509545914443311_jpeg4c3407a2efe4a93f64218f856abf9b9a



www.nairaland.com/attachments/3191654_1239200310207040029852596885005702579760607n_jpeg655e00798ae6d4674d9087bb4277b198

asEdeyHOT:
If it was under the last administration

Jonathan would have divided the money into two, instruct the CBN to disburse it

Ngozi will sign it off

Dasuki will distribute it

Thank God for change

Stop talking nonsense.

Most of the money mishandled was for the re-lection campaign.

Nawa ooo.... I no understand d English.... Someone should help me abeg