Nigeria, Japan seal N2.17bn power supply deal
The Federal Government has signed N2.17bn ($11million) deal with the Japanese Government for an emergency improvement of electricity supply facilities around Abuja.
Minister of Budget and National Planning, Udoma Udo Udoma, who signed on behalf of the Nigerian government, said the electricity supply project by the Japanese government was intended to among other things complement the country’s efforts in guaranteeing steady power supply for economic growth.
According to him, the agreement marked the process for effective implementation of the electricity supply facilities grant project by the Japanese government, adding that the project had been designed to support Nigeria in promoting social-economic and infrastructural development.
“The sustained implementation of this project is expected to pave way for a significant access to quality socio-economic services, thereby leading to reduction in unemployment in the country and promoting community empowerment.
“The Federal Government remains committed to working closely with various stakeholders in the economy to achieve sustainable economic development. This ministry will ensure that we create an enabling environment required for the sustainability of this partnership.”
The project to be implemented by the Japanese International Cooperation Agency, JICA, and the Ministry of Power is aimed at procuring and installing power capacitor banks in Apo and Keffi substations in Abuja and Nasarawa State respectively.
This, according to the agreement, will decrease the transmission loss and assist in stabilizing power supply to approximately 7,000 households within the Federal Capital Territory.
The Japanese Ambassador to Nigeria, Sadanobu Kusaoke, said the power sector has long been one of the priority areas of Japan’s development cooperation with Nigeria. He added that Japan will intervene in more ambitious power sector projects across the country in the future.
“The power sector is a key to improve the quality of life for people and also to promote industry. Power supply is one of the determinant factors when both domestic and foreign investors decide whether or not to invest in a county.”