Success Nwogu 
The Federal Government should explore alternative funding options, such as public-private partnerships (PPPs) or international grants, to actualise the N2.779 trillion Transition Company of Nigeria (TCN) needs to enable it execute projects currently engaged across the country, a sector analyst, Sharon Adekunle, has said.
In an interview with New Telegraph over the weekend, she also said FG should implement a comprehensive plan to upgrade TCN’s infrastructure, increase its capacity and minimise grid failures.
She canvassed the review and revision of existing policies to create an enabling environment for private sector investment in the power sector as well as invest in human capital development, providing training and capacity-building programmes for TCN staff to enhance their technical and managerial expertise.
The Minister of Power, Adebayo Adelabu, had during the Ministry’s budget presentation before the National Assembly, said that in tackling the electricity challenge facing the nation, the TCN would require about N2.779 trillion to execute its 149 projects that are scattered across the country, many of them at different stages of completion.
He said approval had been given for the commencement of the second phase of the Siemens power project under the Presidential Power Initiative with 95 per cent completion of the pilot stage in 2024.
He added that the project would energise power supply as it will involve the construction of five substations across the nation and permanently address the issue of grid collapse.
The Minister claimed that when he was appointed, the country’s generation was just about 4,100 megawatts and that within a year, the capacity increased by over 1000 megawatts.
Adelabu said: “We reached maximum capacity of 5270 megawatts. The improvements in generation capacity were due to improvements in the operation of existing power plants and the commissioning of new plants.
This boost was partly driven by efforts to ensure more efficient use of existing infrastructure and completion of some power projects.”
Speaking further on the Siemens project, Adelabu said the substations to be built across the country would address the nation’s fragile power infrastructure, occasioned by obsolete and outdated equipment.
He said: “The Federal Government is fully determined to address these challenges and issues that have been blocking our progress in our effort to provide electricity to Nigerians and our consumers.
Of particular note is the grid collapse, which has to do with the obsolete and outdated equipment around our power stations. To practically address this, the Siemens project will come on board in the first quarter of this year.
“We have almost concluded the take off of the project and it will involve building five substations across the country. This will energise our supply so that the issue of grid collapse will be a thing of the past.
By next week, we will begin the contracts for the substations to come on board.” He harped on the need to address the issue of vandalism as it concerns the electricity asset across the country.
“One other critical thing I want to draw your attention to is the issue of vandalisation as it concerns our assets. It is important we sensitise our people against this act.
We must be involved in serious advocacy on this issue. We must jointly address the issue of protecting the power assets. A damage to one is a damage to all, especially the transmission assets, they are so interwoven and a damage to one is a damage to all,” he added.
