- FG Approves N47.2bn to Improve Power Distribution in the Country
Among the list of funds approved on Wednesday by the Federal Executive Council in Abuja was N47.2 billion for the purpose of improving and strengthening power distribution in the country.
According to the Minister of Power, Mr. Sale Mamman, the fund would help create an additional supply of 40 megawatts to the national grid.
Speaking with State House correspondents after the meeting held via video conferencing, he said the 40 MW would be moved from the Kashimbilla Dam in Taraba State.
The minister stated, “The council approved the ministry’s memo for the revised estimated total cost for the augmentation of the subsisting contract in the sum of N4,235,303,821.90, to provide additional 40 megawatts, currently being generated from Kashimbilla, via Takum, Wukari and Yandev, to the national grid.”
He further stated that the North-East and Benue State are the beneficiaries of the 40MW when eventually evacuated.
Mamman added that the nation could lose as much as 120 gigawatts or $9 million in a year if the said energy was not evacuated from the dam.
Meanwhile, in the same meeting, the Federal Executive Council approved the reduction of crude oil benchmark for the year and revised down the 2020 appropriation act to N10.52 trillion.