FG approves N263bn for power substations

The Federal Executive Council on Monday approved N262.75bn (€161.33) for the first Phase of the Presidential Power Initiative, otherwise known as the Siemens Project.

The project involves the engineering, procurement, construction, and financing of 330/132 KV and 132/33 KV substations in Onitsha, Offa, Abeokuta, Ayede, and Sokoto.

The Minister of Power, Mr Adebayo Adelabu, revealed this when he briefed State House House Correspondents on the outcomes of Monday’s Federal Executive Council meeting at the Aso Rock Villa, Abuja.

Adelabu said Monday’s approval follows the 80 per cent completion of the project’s pilot phase.