Pre-engineering contract signed for Nigeria’s Presidential Power Initiative
Nigeria, Abuja: The Nigerian Federal Government and Siemens AG signed a contract for the pre-engineering phase of the Presidential Power Initiative (PPI).
Image for illustration purposes
Nigeria, Abuja: The Nigerian Federal Government and Siemens AG signed a contract for the pre-engineering phase of the Presidential Power Initiative (PPI).
Government approved the payment in May 2020 and set up a special purpose vehicle (SPV) known as the FGN Power Company to work with Siemens to implement.
The SPV is as a result of the presidency instructing the Ministry of Power, the Ministry of Finance, Budget and National Planning, as well as the Bureau of Public Enterprise, to speed up the process with the German engineering firm.
The pre-engineering phase contract includes engineering design, finalisation of the project specifications, and the commissioning works for transmission and distribution systems among others.
This was disclosed by the special assistant to President Buhari on digital and new media, Tolu Ogunlesi via social media.
“The FG and Siemens AG signed contract for the pre-engineering phase of the Presidential Power Initiative (PPI). Recall that the FGN payment was approved last year. FGN has set up an SPV known as the FGN Power Company to work with Siemens to implement,” Ogunlesi said.
The Presidential Power Initiative, which was previously known as the Nigeria Electrification Roadmap, will be implemented in three phases: 7,000 MW, 11,000 MW and 25,000 MW.
“The SPV, FGNPowerCo, has the responsibility of executing the Presidential Power Initiative (PPI), providing project management for the implementation of the PPI and serving as the key manager to ensure cohesion and seamless execution,” concluded Ogunlesi.
Source: ESI Africa