The Federal Executive Council(FEC) has approved three power contracts worth N10.48bn and $27.09m respectively for the Ministry of Power to boost the electricity electricity supply and revamp the sector for optimal performance. Abubakar Aliyu, Minister of Power, made this disclosure after the FEC meeting held on Wednesday in Abuja.
According to him, all the three memos presented by his ministry got approved.
He said, “The first one was a variation of a subsisting contract for the Katampe to National Stadium, 132 direct circuit line which is about 90 percent completed.
“The contractor sought the variation because of some delays on the project. All the necessary due processes have been followed and the variation approved by FEC today is N201,949,811.00.”
The Power Minister further said that the Council also approved two contracts for the procurement of two sets of power transformers and the construction of a transmission line in Kebbi State.
He said, “The second approval was for the design, manufacture and supply of two 60 MVA 132/33 KV power transformers. The cost has two components; the offshore is $1,294,447 then the onshore is N16,485,000.
“The third approval was a contract to also design, construction and installation of a 260 kilometre transmission line from Birnin-Kebbi, through Zuru to Yauri in Kebbi State. Also, the cost has two components; the offshore is $25.8m and the onshore is N10.2bn,” the Power Minister revealed.
The FEC also approved Nigeria’s Revised Energy Policy (2022). This was confirmed by Ogbonnaya Onu, Minister of Science and technology after the meeting.
According to Onu, the revision of the energy policy was considered in order to enable Nigeria to take optimum advantage of all the available energy sources across the country.
He further noted that the country huge natural resource including crude oil, natural gas and variants of renewal energy viz; solar, hydro, wind, geothermal and biomass, in commercial quantities.
The Minister particularly revealed that the country’s energy supply will improve if the interplay of the energy mix are adopted