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Home Industries Energy

FG to inject over N198 billion on capital projects in power sector in 2021

Abiola Odutola by Abiola Odutola
October 18, 2020
in Energy, Spotlight
FG Power storage and distribution
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The Federal Government plans to inject N198.27billion on various capital projects in the power sector across Nigeria in 2021.

This was disclosed in the 2021 Appropriation Bill, which President Muhammadu Buhari presented to the National Assembly recently.

READ: Buhari presents N13 trillion 2021 Budget to National Assembly

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Nigeria raises $477 million in Marginal Oil Field development Licenses – Report

African Development Fund approves $2 million to boost electricity reforms in Nigeria and others

Breakdown:

* National rural electrification, managed by the Rural Electrification Agency, will invest a total of N17.86billion on power infrastructure development in rural communities.

READ: CBN to sanction exporters who default on export proceed number

* The Nigerian Electricity Regulatory Commission plans to invest N294.1million on capital projects, while capital projects to be handled by the Nigerian Electricity Management Services Agency will gulp N441.1million.

* The allocation for capital projects to be handled by the Transmission Company of Nigeria, as contained in the proposed budget, is N4.69billion.

READ: Buhari earmarks N420 billion for N-Power, GEEP and others under NSIP in 2021 budget

* The capital outlay projected for 2021 by the Nigeria Electricity Liability Management Limited is N914.87million, while the National Power Training Institute targets to invest N294.1million.

* The total overhead for the entire ministry and its agencies was N1.16billion.

* The amount budgeted for personnel in the power ministry and its agencies is N4.9billion.

READ: Update: Buhari seeks power to freeze accounts, clamp down on money launderers

Related

Tags: 2021 Appropriatio BillMinistry of PowerNigerian Electricity Regulatory Commission (NERC)

Comments 2

  1. Anonymous says:
    October 18, 2020 at 9:21 pm

    Hmmm,electricity is just a scam. Federal Government should not continue to spend money on electricity. Because,the government has been spending huge amount of money, every year, but no any positive result. After all, those people working in the power sector are unjustly selecting the street/areas/communities that they prefer to give good electricity supply

    Reply
  2. Okechukwu says:
    October 20, 2020 at 12:14 pm

    This industry should become fully privatised the same way as the telecommunications industry. The sheer number of agencies in this semi-privatised industry is staggering. They just absorb money and Nigerians don’t receive any benefit.

    Reply

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