By Obas Esiedesa, Abuja

Power sector stakeholders have expressed optimism that the ongoing Central Bank of Nigeria (CBN)  provision of $250 million to expand electricity distribution and transmission infrastructure as part of an emergency approach would ensure the stability of the country’s grid and power system.

The implementation of the emergency plan by the Federal Government follows the collapse of the national grid twice last week which left the country without electricity supply.

The project, which will strengthen the interface between the Transmission Company of Nigeria (TCN) and the electricity distribution companies (DisCos) is expected to gulp about N103 billion and spread across critical locations in the country.

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According to the Minister of Power, Abubakar Aliyu, the CBN funding, would ensure the rehabilitation of critical interfaces infrastructure between Transmission and Distribution to increase and stabilize power delivery.

He explained the project is in addition to the Siemens Presidential Power Initiative (PPI) that will bring in additional $2 billion or more to the Transmission Grid from the government. 

While the grid has continued to fail with two system collapse this week alone, Aliyu said government “is almost $4 billion secured by this administration to augment the Grid. It should be noted that many of these funds are being actively spent and the results will be felt over time. 

According to him, the interface projects along others already being embarked upon by TCN brings ongoing projects in the transmission segment alone to 135 ongoing projects with 30 completed key Substation Projects and 12 transmission Lines.

On his part, the Market Operator at TCN, Edward Eje said: “The interface project is aimed at providing quick solutions at various transmission/distribution interfaces where there are challenges.
“This makes sense to me. It is a laudable measure to achieve a seemless and a hitch-free power transmission from the Transmission  Stations to the Distribution network.”

The Managing Director and Chief Executive Officer of Nigerian Bulk Electricity Trading Company, (NBET) Dr. Nnaemeka Eweluka, disclosed that the apex bank was able to identify critical projects that could quickly address andrestore normalcy.

“So basically what happened was that the CBN has actually performed a very positive role in trying to sort out this electricity market challenges. The CBN is working with TCN and the DisCos. CBN basically asked what are those critical projects that if they are addressed today can quickly yield results in the sector.

“This is even as the Federal Government government is doing this Siemens project and TCN is implementating the report, what are those critical projects that if they are done today, will unlock additional megawatts quickly.

“And so the DisCos and TCN worked together to come up with a list of some critical projects and I can’t be specific on the amount, maybe we can furnish that subsequently but that is what is happening”.