The Federal Government may have got 30 per cent off the total value of Nigeria’s counterpart funding in the Siemen Power Project after intense negotiation before the signing of the pre-engineering phase last week, The Guardian has gathered. Negotiation appeared to have been stalled for a while with a section of the media speculating that the process was affected by the death of the former Chief of Staff, Abba Kyari.

The Guardian gathered earlier in the week that the Presidential Power Initiative (PPI), all along, was carrying out due diligence and negotiations to ensure value for money.

After renegotiations, Siemens and PPI were able to strike a fair deal, leading to last week’s pre-engineering signing. The first phase of the contract is expected to upgrade transmission and distribution to 7,000 MW while the second phase would raise the capacity energy to 11,000MW while the third phase would increase the capacity to 25,000MW. It is expected that the deal would ensure 105 substations are upgraded, 70 new substations built, 35 power transformers manufactured and installed, 3,765 distribution transformers installed and 5,109km distribution lines built.

https://guardian.ng/business-services/how-counterpart-funding-negotiation-stalled-fg-siemens-power-deal/

Buhari na monkey. But he is the best leader Nigeria has ever had in terms of infrastructure.

The only deal he has is in cattle rearing. And our German brothers don't have time for that.