The Transmission Company of Nigeria (TCN) has said that it has secured a $30 million (about N5.977 billion) grant from the World Bank to study the nature of electricity load demand and energy mix in Nigeria.
Deputy Managing Director of TCN, Mohammed Atiku, said at the fifth Nigerian International Power Expo and Conference that the country’s power sector lacked reliable data to plan from, hence the funding support from the bank.
Atiku said: “Demand and supply are two critical elements in the power sector which has to be understood, to be identified, quantified and then we strategize on how to match them. Failure to do that, the sector will be in very bad shape and I am sorry to say this is what is causing the situation we have in Nigeria.”
According to him, the TCN has already initiated the process for the study.