The Minister of Power, Chief Adebayo Adelabu has disclosed that the Transmission Company of Nigeria, TCN, needs about N2.8 trillion to execute 149 projects to improve electricity transmission across the country.
A statement by the Ministry yesterday said Adelabu made this disclosure in separate appearances before power sector committees in the National Assembly to defend the Ministry of Power’s 2025 budget proposal.
The Minister also disclosed that, as part of efforts to improve power supply, the Federal Government has approved the commencement of the second phase of the Siemens power project under the Presidential Power Initiative with 95 percent completion of the pilot stage in 2024.
He said: “For the TCN alone, we will need about N2.779 trillion to enable us to execute about 149 projects we are currently engaged in all over the country. Our total budget as a ministry is not even up to this but as the saying goes that half bread is better than none.
“I’m telling you so that you can be aware of the kind of money that is needed in the ministry for us to address our electricity challenges.”
