Nigeria has signed an agreement with a
Russian firm, Rosatom, to build four nuclear
power plants in the country valued at $80
billion, about N16 trillion.
The power plants which will have a combined
capacity of 4,800 megawatts, are expected to
come on stream between 2025 and 2035.
Speaking at a forum in Kenya Tuesday, Mr.
Franklin Erepamo Osaisai, Chairman/Chief
Executive Officer, Nigeria Atomic Energy
Commission, said the building of the nuclear
plants would be financed by Rosatom, which
will then build, own, operate and transfer the
plants to the government and people of
Nigeria after a number of years.




source : http://www.vanguardngr.
com/2015/04/nigeria-russian-...

Hope they know what they are doing, nuclear power plant is not what you can treat with kids glove because any negligence or failure to attends to it, it is a disaster.

Nice development.

Thank God that the Clueless regime has already been kicked out and as such will not be around to frustrate this arrangement due to their corruption. Imagine building four nuclear plants with $80 billion while tens of billion of dollars was stolen under this outgoing useless regime. We can imagine what we could have achieved with the stolen money!

With a responsible APC regime at the center, we can be assured that all plans and agreements will proceed as envisaged.

Never again shall we be led by a bunch of looters headed by a clueless man from Otuoke.

Oya, children of anger, start quoting me to vent your frustration. I have immunity for all your abuses and curses.

Hmmm...hope the locate them in sambisa forest.

Nuclear plant in a country that is ethnically divided....pray it end well sha

UP Okechukwu Buhari!

UP Mohammadu Putin!

Boycott those Imperialists & Enemies of Progress - The United States of Parasites!

Abeg we no need this one abeg.

Why is he not excited as this news?

Totally scanty news. Let me dig for more info

http://www.bloomberg.com/news/articles/2015-04-14/nigeria-signs-rosatom-deal-for-up-to-80-billion-nuclear-power


Nigeria is in talks with Russia’s Rosatom Corp. to build as many as four nuclear power plants costing about $20 billion as Africa’s biggest economy seeks to boost generation and end daily blackouts.

“A joint coordination committee is in place and negotiations are ongoing for financing and contracting,” Nigeria Atomic Energy Commission Chairman and Chief Executive Officer Franklin Erepamo Osaisai said at a conference in Kenya’s Kwale coastal region on Monday. “We are meticulously implementing our plans.”

The West African nation signed an agreement with Rosatom to cooperate on the design, construction, operation and decommissioning of a facility in 2012. A further three nuclear plants are planned, taking total capacity to 4,800 megawatts by 2035, with each facility costing $5 billion, Osaisai said. The first Nigerian plant will be operational in 2025.

Peak electricity output of Africa’s biggest economy is about 3,800 megawatts, with a further 1,500 megawatts unavailable because of gas shortages. South Africa, with a third of Nigeria’s population yet eight times more installed capacity, has also signed an agreement with Rosatom as the nation looks to add 9,600 megawatts of atomic power to its strained grid. It may spend as much as 1 trillion rand ($83 billion).

South Africa’s agreement with Rosatom gave the company the right to veto the nation doing business with any other nuclear vendor, Johannesburg-based Mail & Guardian reported in February.
Cooperation Meeting

Rosatom and Nigerian officials met last month within the framework of a 2009 intergovernmental agreement to discuss cooperation, Rosatom spokesman Sergei Novikov said by phone from Istanbul. To date, no memorandums have been signed about the development of a nuclear plant, he said.

Rosatom will hold a majority, controlling stake in Nigeria’s nuclear facility while the rest will be owned by the country, with roles to be specified in contracts, Osaisai said. “The government will enter a power-purchasing agreement for the nuclear plant.”

The plants will be financed by Rosatom, which will then build, own, operate and transfer them to the government, he said.

Rosatom is marketing its reactors with generous financing offers as Moscow seeks new markets for its technology amid a looming recession. Over the last year, its international portfolio of orders has grown to more than $100 billion, including deals to build new reactors in Iran, Hungary, India and Jordan.
Hungary Deal

Hungarian Prime Minister Viktor Orban and Russia agreed last year on a 12 billion-euro ($12.7 billion) deal to expand the Paks nuclear power plant, scrapping plans for competitive bids for the biggest Hungarian public contract in a generation.

Under the deal, which Hungary’s parliament classified for 30 years, Russia agreed to provide 10 billion euros for the project in a 30-year loan at below-market rates. Hungary is in talks with the European Union after the bloc raised objections that Russian companies had exclusive rights to supply fuel to the plant and started a probe of possible state aid in the financing of the project.

One megawatt is enough to provide energy to 2,000 average European homes.

Africa’s sole nuclear power station is Koeberg in South Africa, which is owned by state-owned Eskom Holdings SOC Ltd.

(An earlier version of this story was corrected to show the correct cost per plant and of the total program.)

Nigeria is not ready fr nuclear energy. Its not wats happening in nepa or civil service offices. Nuclear is serious business and any little mistske or negligence which we are known for can can spell disaster!

4GW not megawatts. To be shared by Egypt, Kenya and Nigeria.

What's wrong with Nigerian media sef?

This will not end well next thing you will hear is UN sanction EU sanction even US sanction

Just like they built the flagship of Nigeria's very succesful industrial transformation - Ajaokuta Steel Complex. Talk is cheap, lets take this serious when they have built the plants.

N16 trillion for just 4,800 megawatts in 2035 (20yrs time). To be shared by Egypt, Kenya and Nigeria. - Jonaoooooooohhhhhhhhhh!

N16 trillion at N199.05 for $1 would mean $80billion in excess for just 4,800MW of electricity. Meanwhile look at this: http://en.wikipedia.org/wiki/Grand_Ethiopian_Renaissance_Dam

The link above is a project by the Ethiopian government to build the largest Hydroelectric Dam in Africa with an installed capacity of 6,000 MW for just $4.8 billion with a project life of 5 years (as we speak the project is already being concluded).

The incoming govt. better sits up, do all its research before handing over date i.e. May 29th, because there's no time for mediocre. If they make any mistake, we'll come heavy on them. What we did to Jonathan is a tip of the iceberg. Don't waste our money on a nuclear station, look at Chernobyl. Nuclear power is not a technology for Earth, maybe something that should be created in a non-habitable planet like say Mars, so when something goes wrong we can run back to Earth.

Japan has shut all its Nuclear station and has switched back to coal for power generation (although Green House emission is a problem here). The Japs are smarter than us, they've abandoned Nuclear, so please who the Bleep want to bring Nuclear Stations in a dysfunctional society like ours?

Wow! This is good news although it's not 4 megawatts but 4 GW

$80 billion for meager 4000 MWs? Must be a joke..

This money is too much considering the capacity of the plant and the time frame.. Does it mean we have to wait for 20 years to enjoy stable power?

We no want joor.

Finally, Nigeria has join the nuclear family, but there are some risk attach to it because it can also be used for nuclear weapon and u know what that means.

san316:
This money is too much considering the capacity of the plant and the time frame.. Does it mean we have to wait for 20 years to enjoy stable power?

We no want joor.

better late dan never

DONBROTHER1:
Finally, Nigeria has join the nuclear family, but there are some risk attach to it because it can also be used for nuclear weapon and u know what that means.

nt in our Nigeria, we're nt there yet

san316:
This money is too much considering the capacity of the plant and the time frame.. Does it mean we have to wait for 20 years to enjoy stable power?

We no want joor.

if only u knew how much d political class syphoned in d last 4 yrs

The main question is what are we giving them in return??the whites dont make deals they wont benefit from.GMB should be very careful with these people before they drag us into debt or eventually neocolonise nigeria.
Nigeria is messd up but at least we handle our affairs,i dont want nigeria to bcm southafrica where foreigners rule them o

Mynd44:
4GW not megawatts. To be shared by Egypt, Kenya and Nigeria.

What's wrong with Nigerian media sef?

Thank you my bro.

Upon all the BILLIONS OF DOLLARS SPENT nothing to show.

Besides where did they Nigeria to Shawn out $80B .

Kai! Journalists should be mindful of what they present to the AUDIENCE to prevent unwanted EXPECTATION.

MY HUMBLE OPINION.
And.....

You know. ....

CheeNayNay:
The main question is what are we giving them in return??the whites dont make deals they wont benefit from.GMB should be very careful with these people before they drag us into debt or eventually neocolonise nigeria.
Nigeria is messd up but at least we handle our affairs,i dont want nigeria to bcm southafrica where foreigners rule them o

Foreigners rule S.A? hmmm, dats a new one, neva heard of such.

princemi:


Foreigners rule S.A? hmmm, dats a new one, neva heard of such.

yes they do,whites to be precise.they've in control of s.a resources since apartheid till now,the richest southafricans are white.forget jacob zuma,he's their puppet.

CheeNayNay:
yes they do,whites to be precise.they've in control of s.a resources since apartheid till now,the richest southafricans are white.forget jacob zuma,he's their puppet.

if my sources r correct den ur wrong. It's actually d oda way round, as a matter of fact d whites av been crying marginalization ever since d blacks took over.