FG approves N8.64bn counterpart funding for Siemens power deal - News Summed Up

FG approves N8.64bn counterpart funding for Siemens power deal


The decisions were taken at the virtual meeting of the council presided over by the President, Major General Muhammadu Buhari (retd.). She said the ratification was done based on a memorandum she jointly presented with the Minister of Power, Saleh Mamman. She said the project would also support the regulator, Nigerian Electricity Regulatory Commission, towards improving metering in the electricity industry in the country. “The MOU is designed to deliver this end to end modernisation programme which we are calling the presidential power initiative. The objective of this initiative is to address the intractable problems that have bedevilled the Nigerian power industry, over a period of years.


Source: Punch July 29, 2020 16:41 UTC



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