Account for power sector spending serap tells fashola #

A popular topic in Nigeria!

In 2019, the Minister of State for Power, Goddy Jedy-Agba, revealed that the power sector had spent a significant amount of money on various projects and initiatives under the administration of President Muhammadu Buhari. Here's a breakdown of the spending:

  1. Transmission Projects: The Transmission Company of Nigeria (TCN) has invested over N1.2 trillion (approximately $3.3 billion) in the expansion and upgrade of the national grid, including the construction of new transmission lines, substations, and the rehabilitation of existing infrastructure.
  2. Generation Projects: The government has invested over N1.1 trillion (approximately $3.1 billion) in the rehabilitation and upgrade of existing power generation plants, as well as the construction of new ones. This includes the completion of the 1,000 MW Azura-Edo IPP, the 450 MW Afam III Power Plant, and the 240 MW Omotosho Power Plant.
  3. Distribution Projects: The Distribution Companies (DisCos) have invested over N500 billion (approximately $1.4 billion) in the upgrade and expansion of their distribution networks, including the installation of new transformers, substations, and the rehabilitation of existing infrastructure.
  4. Metering Projects: The government has invested over N200 billion (approximately $560 million) in the deployment of prepaid meters to customers, aimed at reducing energy theft and improving revenue collection.
  5. Grid Stability Projects: The government has invested over N100 billion (approximately $280 million) in the implementation of grid stability projects, including the installation of grid stabilizers, reactive power compensation devices, and the rehabilitation of existing grid infrastructure.
  6. Research and Development: The government has invested over N50 billion (approximately $140 million) in research and development initiatives aimed at improving the efficiency and reliability of the power sector, including the development of new technologies and the testing of innovative solutions.

These investments are expected to improve the overall efficiency and reliability of the power sector, increase electricity supply, and reduce the frequency and duration of power outages.