Okechukwu Nnodim, AbujaA total of 3,800 power and distribution transformers are to be installed across the country based on the deal between the Federal Government with the German Government and Siemens AG. The OMP explained that the 3,800 power and distribution transformers would come under the first phase of the Presidential Power Initiative deal with the German government and Siemens. The PUNCH had reported that the Federal Executive Council approved the payment of €15.21m (N6,940,081,465.20) offshore and N1.708bn onshore as part of Nigeria’s counterpart funding for the power deal with Siemens AG. Providing a breakdown on some of the distribution projects as proposed by power distribution companies to be implemented in phase one of the deal, the power ministry said 3,765 distribution transformers would be deployed. On power transformers, the OMP said 35 would be provided in phase one of the PPI/Siemens deal.

Source: Punch August 18, 2020 23:37 UTC