Nnaji, who spoke on Sunday in Enugu at an interactive session with newsmen at the end of a two-day power summit, said that the project would be funded with loans from the World Bank and the African Development Bank (AfDB).
He expressed optimism that the project, which would commence by the end of May, would generate additional power capacity of 958 megawatts, when completed.
“We want to improve power generation either by repairs or by new plants which will be constructed. I have informed you that the recovery of capacities that we installed, but not working up to 958 megawatts, will be funded with loans from the World Bank and the AfDB.
“We will also mobilise management contractors of the project with these loans. Our expectation is that by the end of this month, we will have the funds available to kick start the project. All these projects must be completed within six months.
“When this project is completed by the end of the year, power generation and transmission capacity will improve,’’ the minister said.
On gas, Nnaji said that the power ministry would align with the Ministry of Petroleum Resources to have enough gas booking before the end of the year.
He said that the tariff revision, which would take effect from June 1, would not affect the rural poor in the society, adding that the tariff would be subsidised for the poor.
The minister also said that the Federal Government, in its bid to conserve energy, would soon introduce an energy efficiency programme.
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hahahahahahahahahah...i de laff....na today?
ReplyDeleteWhat a joke...
ReplyDeleteThis is a political statement. What are the indices to measure the so-called improvement? Without any benchmarks to measure success, this is just another scheme to get a loan and waste the resources. mscheeeewwww
ReplyDelete