Arise from the Federal Executive Council meeting,the meeting considered and approved the request for the sum of 13 billion naira for the Lagos trans-industrial transmission project, which is being funded through a $230 million development loan from the Japanese International Cooperation Agency (JICA).
“This project, when completed, will not only improve capacity and credibility of power supply along the industrial axis of Lagos and Ogun, but it will also be good news for industrial development and ensure that industries around that axis enjoy improved supply,” Adelabu said.
The minister said the project will boost electricity to industrial corridors in Lagos and Ogun States, ensuring manufacturers receive a stable power supply.
The other three papers were actually in respect of approval for procurement of various grids of power transformers to replace weak and dilapidated ones across the national grid.
FEC approved the purchase of 14 high-capacity transformers costing $34 million, plus an additional N5.2 billion.The new transformers include two 150MVA 330/132/33kV units, five 100MVA 132/33kV units, five 60MVA 132/33kV units, and two 30MVA 132/33kV units.The minister said the upgrades will ease pressure on overstretched sections of the grid and improve system efficiency.
