Nigeria has budgeted about N806,103.6 billion ($195,000,174.20) for various power projects in the country in 2022.

This is a deliberate move to try and fix the country’s ailing power sector.

The billion Naira power sector budget/intervention is coming at a time when stakeholders have opposed the continuous support for privatised entities by the Federal Government, saying the move was counterproductive to the ideals of privatisation.

Some of the projects as highlighted in the 2022 budget included: N1 billion ($2,4 million) for a rural electrification access programme in federal universities; N220.5 billion ($533,468,218.50) for multilateral and bilateral funded projects (Zungeru, NEP, Abuja power feeding scheme and transmission access, among others).

Others are the N800m ($193,548,5.60) for the distribution expansion programme projects to utilise the stranded power from the grid, N114bn ($275,806,698) funding (inclusive of multilateral loans) to the Rural Electrification Agency (REA) for the completion of renewable energy interventions for rural electrification projects nationwide, N303m ($733,065.17) for construction of 215MW LPFO/Gas Power Station, Kaduna and N470bn ($113,709,779) for Kashambilla transmission.

Source: https://energynewsafrica.com