The Transmission Company of Nigeria has said Nigeria requires nothing less than N1tn to effectively wheel electricity through the national grid.

The Executive Director, Transmission Service Provider, TCN, Victor Adewumi, said this at the 52nd Power Dialogue of the Nigeria Electricity Hub on which held online in Abuja on Wednesday.

He said TCN would require the sum to make the country’s power grid stable, adding that the $1.6bn which the transmission company was getting from international agencies would not be enough to stablilise the grid.

When asked to state how much would be needed to get the grid to transmit electricity effectively, Adewumi replied, “Simply put, TCN requires nothing less than N1tn to make the grid to be very stable.

“For the project that TCN is financing internally, relying on our IGR (Internally Generated Revenue) and the Federal Government budget system, TCN requires nothing less than N600bn.

“So when you look at the total, you will be talking about N1tn. This is a huge sum of money and if you look at it critically, there is no way that even the Federal Government can provide this kind of fund.”

He said investors were invited to come and fund some of the projects in TCN, as they would recoup their investments over time.

Adewumi said, “So the alternative way is to look at project financing, where those who have the money can come to TCN and finance probably the transmission lines and then look at the cost of energy to be wheeled on that line, spread it over a period of time and then get their money back.

He said, “But with the current kind of fund that is entering TCN, there is no way TCN can embark on that.

“This is because the Discos are not giving us the required money; we are getting less than 60 per cent of TCN tariff.0

He added, “That is even after the Nigerian Electricity a Regulatory Commission forced them to do it.”

He, however, stated that the Discos would not receive all the blame as many power users were involved in electricity theft.

This came as senior officials of the African Development Bank and the Enugu Electricity Distribution Company stated that the Nigerian power sector was not bankable.

https://m.punchng.com/Business/Nigeria-requires-N1tn-for-efficient-electricity-transmission–TCN

Looks like this power issue in Nigeria is irredeemable, especially since we have corrupt leaders....with the money our leaders embezzle yearly..if you put them together, Nigeria will become one of the best countries in africa.

Alternatively... let's reduce or even make free the levy, duty or tax on importation of solar equipments to encourage more importers and reduce cost.

Hmmm, make una continue

Just one trillion?

Triple the amount, one trillion is too small for your non-existent power

adaragbotemi:
Hmmm, make una continue

even devil na learner when it comes to Nigeria politics and its people, Nigerians will even corrupt hell fire.

Lol... Every new set of crooks wan chop their own money....

Obasanjo did away with his share now buhari and his cabal want to cut theirs too.

just open mouth waaa and say whatever comes into Thier head, what about the money gotten from the sold electricity to neighbouring countries.


mtweeeeee

Make una de there de talk #1 trillion. Yesterday, the proactive Governor of Edo state project OSSIOMO Power company, is already in the process of 24/7 uninterrupted power. They are connecting most parts of Edo gradually to the OSSIOMO power. People in Sapele Rd who reside around the High Court kept wondering when there was no light interruption. 'are we safe? Nepa nor gree take light' 'wetin de happen' was most of their response..
Edo is moving Forward.... Make una de find trillions..correct Governor

Even if you give those bastardds 1 gazillion, Nigeria still won't have steady electricity

What did we bring Siemens to do?

kom kolect am na!!

As a former member of an audit team for one of the discos. I can tell you there is no hope for that electricity sector. Nbet is owing tcn and gencos, discos are owing cbn and nbet, customers are owing discos, cbn is paying some disco debts and transferring the liabilities to disco books. Discos owners are using related companies to cash out from the discos. It was sad seeing all this while i was an auditor in Nigeria

It is finished!!
Make everybody jus go buy generator.....even if na "I pass my neighbor"

Useless TCN. The one they have been given you all this while what are you doing with it? Looting.

E be like say dem wan to start another story again oo
All I really know is that they dont really care about us.

As if we did not understand the game.


They will publicise needing N1tn
Some set of politicians will disguise as 'private' investors and invest with our stolen treasure.
Then they will start 'making' unending profit to the detriment of the masses.

Even if they give you guys 3trillion the case will still be the same.

Our problem is not lack of money,but corruption, nepotism,and poor management.

The trillion will pass from one hand to the other,and by the time they are ready to start work you will realize that only 100m is remaining in the account.

Finally, they've upgraded from billions to trillions.
Shameless thieves.
See una life?

1 trillion naira for darkness.

Just about two months ago, electricity bill was hiked saying power will become more stable. Here we are two months after, power distribution has become more epileptic and the new tariff still stands.

But we spent $16billion.

If all you saw is 1 trillion, power sector without reading article and are shouting thief....gather here

Na waa

Yahoo boy: Let’s share the 1t make we use am buy fuel for our generator...buy oppo phone and 100gig data.
Boys need all the above for international hustle while our government is ripping us to shreds?!?
Wicked government !

...
Whenever I remember our shambolic power sector, my mind will always go to billions of dollars spent by OBJ on this same sector, yet, we are still here. Can't boast of 8hrs of daily power supply..


OBJ, u nor go die well...

Sunnymatey:
Finally, they've upgraded from billions to trillions.
Shameless thieves.
See una life?

They wanted to scare us that is why they used naira. If it is to steal the would have used dollars as that amount is just less than $3 billion dollars.

how much will then be needed for generation? 50 trillions?

It has always be in the trillion.