Connect with us

Press Release

Buhari signs electricity agreement with German company

Published

on

President Muhammadu Buhari Monday witnessed signing of Implementation Agreement for the Nigeria Electrification Roadmap (NER) between Nigeria and Siemens AG of Germany in State House.

Full statement below:


REMARKS BY H.E PRESIDENT MUHAMMADU BUHARI AT THE MEETING WITH MR JOE KAESER, CEO/PRESIDENT SIEMENS AG AT THE STATE HOUSE ON MONDAY 22ND JULY 2019

1. Thank you all for coming today and for the roles you have all played in planning what we hope will be a significant project to dramatically improve the quality of our electricity supply.

2. I recall my meeting in late August, last year, with Chancellor Merkel here in Abuja, when both our Governments committed to future cooperation to support economic growth and development in Nigeria. We were clear that fixing the power sector was a key priority for this administration.

3. It was during that event that Mr Joe Kaeser, CEO of Siemens AG committed to working with Nigeria to develop a feasible roadmap to modernise our electricity grid with support from the German Government.

4. We all know how critical electricity is to the development of any community or indeed any nation. And in Nigeria, whilst we are blessed to have significant natural gas, hydro and solar resources for power generation, we are still on the journey to achieving reliable, affordable and quality electricity supply necessary for economic growth, industrialization and poverty alleviation.

5. Ladies and Gentlemen, there have been many attempts at solving the electricity problem in our country. Previous Governments have explored State funded solutions through the ill prepared National Independent Power Projects. They also explored the installation of large emergency power projects. There was also the partial privatization of the power generation and distribution sectors.

6. These various interventions to solving the electricity problem have yielded an imbalance between the amount of power generated and the amount available for consumers. Despite over 13,000 megawatts of power generation capacity, only an average of 4,000 megawatts reliably reaches consumers.

7. Now, we have an excellent opportunity to address this challenge.

8. This Government’s priority was to stabilise the power generation and gas supply sector through the Payment Assurance Facility, which led to a peak power supply of 5,222 MW. Nonetheless, the constraints remained at the transmission and distribution systems.

9. This is why I directed my team to ask Siemens and our Nigerian stakeholders to first focus on fixing the transmission and distribution infrastructure – especially around economic centres where jobs are created.

10. Whilst it was evident that more needed to be done to upgrade the sub-transmission and distribution system, our Government was initially reluctant to intervene as the distribution sector is already privatised.

11. I am therefore very pleased with the positive feedback from private sector owners of the distribution companies, who have all endorsed Government’s intervention to engage Siemens on this end-to-end plan to modernise the electricity grid.

12. Our goal is simply to deliver electricity to Nigerian businesses and homes. My challenge to Siemens, our partner investors in the Distribution Companies, the Transmission Company of Nigeria and the Electricity Regulator is to work hard to achieve 7,000 megawatts of reliable power supply by 2021 and 11,000 megawatts by 2023 – in phases 1 and 2 respectively.

13. After these transmission and distribution system bottlenecks have been fixed, we will seek – in the third and final phase – to drive generation capacity and overall grid capacity to 25,000 megawatts.

14. With our strong commitment to the development of Mambilla Hydroelectric and the various solar projects under development across the country, the long-term power generation capacity will ensure adequate energy mix and sustainability in the appropriate balance between urban and rural electrification.

15. Our intention is to ensure that our cooperation is structured under a Government-to-Government framework. No middlemen will be involved, so that we can achieve value for money for Nigerians. We also insist that all products be manufactured to high quality German and European standards and competitively priced.

16. This project will not be the solution to ALL our problems in the power sector. However, I am confident that it has the potential to address a significant amount of the challenges we have faced for decades.

17. Ladies and Gentlemen, it is our hope that as the power situation improves, we will improve investor confidence, create jobs, reduce the cost of doing business and encourage more economic growth in Nigeria.

18. I thank you for coming today, particularly those of you who have had to come from outside Nigeria. I wish you all safe stay in Abuja and safe journeys back home.

19. God bless the Federal Republic of Nigeria.

Click to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sanusi reveals why he can return as Emir of Kano [Watch video]
News2 weeks ago

Sanusi reveals why he can return as Emir of Kano [Watch video]

Metro4 weeks ago

Spain’s first coronavirus patient reportedly recovers after receiving HIV And MS Drugs

Breaking news7 days ago

Hillary Clinton tackles Donald Trump for asking Americans to return to work to avoid crippling economy amid coronavirus pandemic

World News4 days ago

America surpasses China, Italy to become most infected with coronavirus with 85,000 cases

Sacking service chiefs is threat to national unity — Presidency
Press Release5 days ago

President Buhari sends messages to Nigerians on coronavirus, with approval of N5bn intervention fund and another N10bn request

News4 weeks ago

No February salary for Lecturers who are not on IPPIS – Minister of Finance, Zainab Ahmed

News4 days ago

About 14 percent of the recovered coronavirus patients in China test positive again

News3 weeks ago

BREAKING: Emir of Kano Muhammadu Sanusi dethroned

News3 weeks ago

Kano new Emir, Bayero sheds tear after receiving appointment letter from Ganduje

Cambodia, Egypt, Nepal, Sri Lanca
News3 weeks ago

Volunteers to receive £3,500 after been infected with Coronavirus in attempt to find vaccine

Breaking news1 week ago

Breaking: Outbreak of new Hantavirus in China amid Coronavirus spread

News2 weeks ago

Coronavirus: Pastor Oyedepo cancels church services over dreaded disease

SCOVID -19: Nnamdi Kanu reveals where Abba Kyari was secretly flown for Coronavirus treatment
News4 days ago

COVID -19: Nnamdi Kanu reveals where Abba Kyari was secretly flown for Coronavirus treatment

celebrity news3 weeks ago

Prince Harry and Meghan Markle arrive Mountbatten festival (photos)

News4 days ago

Coronavirus: Man asked to go home and self-isolate after testing positive but no bed space for him

Politics3 weeks ago

Igbos will know they are no longer Nigerians if denied presidency in 2023 – Former Governor of Anambra State, Uche Ezeife

crime4 weeks ago

Fake soldier and police corporal arrested in Oyo State

Metro2 weeks ago

Couple who reportedly died in Lagos explosion are only children of their parents

Viral4 days ago

Imam of Peace continues to drag President Buhari…trends #Presidentcovik, #ResignBuhari

Metro2 weeks ago

How I was manhandled by Police, DSS, others – Sanusi

News7 hours ago

Coronavirus: Lagos confirms 13 new cases of COVID-19

Sports8 hours ago

Ronaldinho plays foot volleyball with prison inmates while awaiting trial

celebrity news8 hours ago

Rihanna vows to have four kids with or without a partner as she graces the cover of British Vogue

Entertainment8 hours ago

Singer Aaron Carter’s girlfriend arrested for domestic violence after scratching his arm

News8 hours ago

Naira crashes to N412 for a dollar

Coronavirus: We’ve started immediate cash transfer to poorest households, says FG
News9 hours ago

Coronavirus: We’ve started immediate cash transfer to poorest households, says FG

Metro9 hours ago

Police arrests masqurade for defying lockdown order

Buhari appoints Yemi-Esan new Head of Service
News10 hours ago

Buhari signs COVID-19 Act backing restriction of movement

News22 hours ago

Oyo gov, Seyi Makinde tests positive for Coronavirus

Breaking news22 hours ago

5 Coronavirus patients discharged in Lagos after testing negative

News1 day ago

President Trump warns that Prince Harry and Meghan Markle must pay for their security in US, they reply hime ,

News1 day ago

Prince Charles recovers from coronavirus and is out of self-isolation just few days of treatment

News1 day ago

COVID 19: Property Merchant, Olu Okeowo, Set To Feed 100, 000 People In Lagos

News1 day ago

Breaking: Nigeria records another Coronavirus death

News1 day ago

Nigeria’s Ooni of Ife reveals herbs that can treat COVID-19

News1 day ago

Coronavirus: Pastor who defiled ban on public gathering order arrested for holding church service

Coronavirus: Ekiti state government declares 14-day curfew
News1 day ago

Coronavirus: Ekiti state government announces 14-day curfew

News1 day ago

Only those whose time has come will die of coronavirus — Pastor Adeboye

News1 day ago

Tinubu donates N200m towards fight against Coronavirus

News1 day ago

Coronavirus: Why Buhari ordered lockdown in Lagos, Abuja, Ogun – Minister of health, Ehanire Osagie

Receive NEWS for free

Enter your email address to subscribe to receive news updates

Join 13,594 other subscribers