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Nairaland Forum / Nairaland / General / Politics / USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW (1180 Views)
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USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by Napata77: 1:16am On Jan 08, 2023 |
It appears that the recent trip made by President Muhammadu Buhari, GCFR, to Washington DC, bore major fruit for the nation. Mr President spent a long time discussing this deal with Joe Biden. This US power deal is now in addition to the ongoing Siemens power programme initated by Mr President. I do foresee a 'bright' future (excuse the pun). Nigeria Signs Agreement With US Firm On Power Generation By Timothy Choji, Abuja On Dec 17, 2022 Done Deal. Muhammadu Buhari, GCFR The Nigerian Government and a US firm, Sun Africa LLC have signed a Development and Engineering, Procurement and Construction (DEPC) implementation framework agreement for the construction of 5,000 MW of solar energy and 2,500 MWh of battery energy. The energy storage power plants will attract up to $10 billion in investment from the US government. The agreement was signed by Adeniyi Adebayo, Nigeria’s Minister of Industry, Trade and Investment, and Adam Cortese, CEO of Sun Africa, in the presence of Amos Hochstein, President Joe Biden’s Special Presidential Coordinator for the Partnership for Global Infrastructure and Investment. In his address on Tuesday, December 13, President Muhammadu Buhari said: “As part of the National Renewable Energy and Energy Efficiency Policy, we set the vision 30:30:30 which aims at achieving 30GW of electricity by 2030 with renewable energy contributing 30% of the energy mix” in the presence of President Biden and the world leaders, and sought the United States support to achieve it. Sun Africa, Sterling and Wilson Renewable Energy Limited (“S&W”), a leading US and international solar EPC company, and the Nigerian government have been working on the development of transformation grid-connected and mini-grids solar projects in multiple locations, including interconnection, electrification and smart meters infrastructure. To ensure the broadest approach to access electricity, Sun Africa is also implementing solar cabins and solar home systems where the mini-grids are not economically viable. The project will be constructed in different phases across the six geopolitical zones and will provide clean, reliable and affordable electricity to millions of Nigerians. Presidential Spokesman, Garba Shehu, in a message, said: “This transformative solar project is on top of the US climate and sustainable energy agenda and has been prioritized as a strategic lead for the US which is entirely in line with the Nigerian Government’s Energy Transition Plan, addressing clean and reliable energy supply, creating jobs and ensuring transfer of knowledge and technology.” https://von.gov.ng/nigeria-signs-agreement-with-us-firm-on-power-generation/ 4 Likes 4 Shares |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by JoeNL22(m): 1:21am On Jan 08, 2023 |
Napata77:U |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by DeLaRue: 1:36am On Jan 08, 2023 |
The $10 billion should be going into revamping the transmission infrastructure, not solar and battery. I guess America has chosen what will best benefit their own economic interest. 2 Likes 1 Share |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by omonnakoda: 1:37am On Jan 08, 2023 |
Solar power from the US? Hmm I believe China offers better value in solar 1 Like |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by Napata77: 1:41am On Jan 08, 2023 |
DeLaRue: Transmission is what Siemens is doing. The US deal is solely about renewable energy, which is great. 2 Likes 1 Share |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by Napata77: 1:45am On Jan 08, 2023 |
omonnakoda: Are we going to die with China? Rail China, Airports China, everything China, which one una dey? It's not right to have just one country building all your major infrastructure, even if they're doing it for cheaper. It's even a national security issue. Haba. 5 Likes |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by omonnakoda: 1:48am On Jan 08, 2023 |
Napata77:You sound stupid and I don't argue with stupid people 2 Likes 2 Shares |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by Napata77: 1:50am On Jan 08, 2023 |
omonnakoda: I didn't insult you, so I've no idea why you're doing that. 9 Likes |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by Flier: 1:55am On Jan 08, 2023 |
omonnakoda:You are full of hate and probably lack home training,the guy did not insult you but you rather called him stupid. 8 Likes |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by RichAbujaGuy: 2:02am On Jan 08, 2023 |
A very good read/development Honourable OP. Thanks for the enlightenment. 1 Like |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by Napata77: 2:05am On Jan 08, 2023 |
RichAbujaGuy: Most welcome, bro.. |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by laiperi: 2:45am On Jan 08, 2023 |
A country directly under the sun can not produce or manufacture solar power and sell it to the rest of the world. Countries outside the Equator are teaching those on it how to tap Solar Energy. I see another Enron. 3 Likes 1 Share |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by optionalY09: 2:47am On Jan 08, 2023 |
not impressed. they’re gradually gradually selling us into another type of slavery. We have money to do all these things for our people and make it affordable 2 Likes 1 Share |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by socialmediaman: 2:51am On Jan 08, 2023 |
Great! Peter Obi will ensure that the partnership works out successfully and benefits everyday Nigerians, and doesn’t turn to another $16 billion USD waste 1 Like |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by Napata77: 3:06am On Jan 08, 2023 |
optionalY09: Nigeria's annual budget is just 50 billion dollars. It's really not a lot of money for 220 million people. The FG cannot afford to use 10 billion dollars from that sum to build renewable energy projects, or many other sectors will be deprived. ASUU crisis is a case in point. So foreign investment is required. It is not slavery. South Korea, Singapore, Malaysia, and other Tiger economies developed by attracting huge amounts of western capital and investment, which facilitated technology transfer, that helped local industrialisation. So if we play our cards right, it shouldn't be slavery at all. 2 Likes 1 Share |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by SmartPolician: 3:13am On Jan 08, 2023 |
Nice initiative. This is the first step a serious government should have taken the first few months it came into office. I guess it's better late than never; the next administration will take the credit for project, if they continue with it. |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by Napata77: 3:33am On Jan 08, 2023 |
SmartPolician: You guys talk as if everywhere was nice and cool when Buhari came in, and all he had to do was embark on these lofty projects, if only he was 'serious'. You forget that world oil prices crashed just before he assumed power, leading to a huge drop in national income, and a recession for which he was blamed. Meanwhile Boko Haram were intensifying their atrocities and running riot across the north, colonising territories and hoisting their flags, leading to a desperate search by the FG for the right military equipment to combat them. So Buhari's main approaches to the US then were for fighter jets and attack helicopters. Even the US would never have agreed to invest a dime in any Nigerian development projects back then. That the US is willing to put 10 billion dollars into these renewable energy projects is a clear sign that Washington realises that Boko Haram is largely defeated by the Nigerian military, and that a greater calm and security is finally returning to the Giant of Africa. 4 Likes 1 Share |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by SmartPolician: 3:51am On Jan 08, 2023 |
Napata77: Ogbeni, stop defending Buhari. That man lacks excellent adminstrative and leadership skills. I am not here to banter words with you over a clueless leader. Just know that Nigerians would definitely know and feel his overwhelming impact the day a good leader takes over the helm of government, Boko Haram, ISWAP or not. We follow news around the world every hour and can separate the wheat from the chaff. The few times Buhari stepped aside for Yemi Osinbajo, we know the impact the latter made. Borno State is the headquarters of terrorism, but Babagana Zulum is still doing a great job. Again, stop defending the indefensible because that man knows zilch about leadership and administration. PS: I won't reply you again though. 3 Likes |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by Nobody: 3:52am On Jan 08, 2023 |
omonnakoda: You are the stupid one here sir 2 Likes |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by Napata77: 3:55am On Jan 08, 2023 |
SmartPolician: I thoroughly disagree with you. Buhari is Nigeria's Infrastructure President. He had less than 1/4th of the money available to the Jonathan administration, yet achieved more infrastructural successes than Jonathan, Yar'adua and Obasanjo combined. You know why? Because his government is not as corrupt as the previous ones. Right now he is on course to ending the nightmare of power shortages for good in Nigeria. Something none of your previous presidents with ''excellent administrative and leadership skills'' could even dream of accomplishing. So show some appreciation for something good, and quit being bitter. 4 Likes 1 Share |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by michlins(m): 4:55am On Jan 08, 2023 |
This shouldn't be another trap like the one Jonathan signed on gas deal which Nigeria is liable to pay a heavy sum for now. If this will work, that's a very good parting gift from Buhari to Nigeria people 1 Like 1 Share |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by ElSudani: 5:24am On Jan 08, 2023 |
SmartPolician: You are talking nonsense, what the guy told you is the absolute truth. Some of you just criticize just for the sake of criticism. Development can only happen in a peaceful atmosphere. If Boko Haram was planting their flags on Nigerian soil do you really think electricity would be the top objective of the government? 3 Likes 1 Share |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by SmartPolician: 5:29am On Jan 08, 2023 |
ElSudani: You are definitely disappointed with the names I mentioned. Otherwise, you would have called it hate or tribalism. Go back to sleep. It's too early in the day to start sounding dumb. 2 Likes |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by HIGHESTPOPORI(m): 5:53am On Jan 08, 2023 |
Napata77:Buhari that has borrowed more money than every government combined since 1960,Stop joking abeg 1 Like |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by ElSudani: 6:08am On Jan 08, 2023 |
SmartPolician: You are the one writing like a bloody illiterate. 1 Like |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by mycar: 6:22am On Jan 08, 2023 |
good one |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by mycar: 6:29am On Jan 08, 2023 |
Napata77:oil price crash or oil been stolen without his knowledge for donkey years. snake and termite stealing money, if Buhari had started like this, Nigeria would have made some progress, APC just woke up towards the election time knowing fully well that Nigerians like you have short memories. In as much as I do not support the way he started, but smartpolitician has a point about buhari not being a good administrator because just the few times Osinbajo was in charge, country had a breath of what a good administration is all about 2 Likes |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by Napata77: 7:03am On Jan 08, 2023 |
mycar: What happened when Osinbajo took charge for a few days? Did Naira appreciate? Did prices fall? Did bandits and kidnappers disappear? What exactly happened? NOTHING. So spare us this silly romanticisation of Osinbajo. And YES, there was an oil price crash in 2015 which led to the Nigerian recession. And if you think oil theft started with the Buhari govt, then you're the most naive Nigerian alive. 1 Like 1 Share |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by mycar: 7:23am On Jan 08, 2023 |
Napata77:Yes, those you stated improved 1 Like |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by pquaver(m): 7:33am On Jan 08, 2023 |
mycar: Trying to talk good about Osibanjo when he is not contesting so it will seem bitter igbos are not tribalist or would have supported him. Go back to what you people said before primaries when it was as if Osibanjo was Buhari candidate you finished him, now so u want yo look OK and not against yorubas.. They can decode but as you know 1 Igbos is another igbo man's problem so I am helping the yoruba people decode una think say una wise Osibanjo kudos.. Oga Buhari even if he draws down heaven you are bound to hate him.. But the absolute truth is, no matter how much you tell the lies the infrastructure will stand years bearing his name as the man who laid the foundation for great Nigeria.. If you like u can grow old with your bitterness e concern you.. Reasonable and patrotic Igbos will be there to counter the lies you will pass down to the next Gen.. 2 Likes 1 Share |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by astonished: 7:36am On Jan 08, 2023 |
Are we still going to have Nigeria by 2030? God forbid. that's cruelly |
Re: USA To Invest $10 Billion In Nigerian Power Sector, For Extra 7,500 MW by femisplash: 7:40am On Jan 08, 2023 |
A certain OBJ squandered $16b power funds with his vice, Atiku, today same old failure is endorsing another failure of Anambra as President. God forbid. Buhari has been excellent in infrastructures, Tinubu will continue the legacy. Arguing with zombidients who hate anything good about the country is a waste of time. 1 Like 1 Share |
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