BUHARI INVESTS ANOTHER 2 BILLION DOLLARS IN SIEMENS POWER DEAL

Vice President Yemi Osinbajo has revealed that the federal government is investing more than $2 billion under the Siemens Presidential Power Initiative to boost transmission and distribution of electricity from the nation's national grid.

President Buhari and the Global CEO of Siemens, Joe Kaeser at the State House, Abuja.


Speaking during the formal inauguration of the National Council on Infrastructure in Abuja yesterday, the vice president said the collaboration between the federal government and the private sector will not only ensure effective coordination of the infrastructure development across the nation, and all sectors of the economy, but also bridge the nation's infrastructural gaps....

Osinbajo said in spite of the infrastructure deficit across the country, there had been deliberate and massive investments in road, rail and power infrastructure for rapid economic development by the present administration.

According to him, a fundamental feature of the federal government's plan for the rapid development of the economy is a deliberate and massive investment in infrastructure.

"They include the Second Niger bridge, the Lagos-Ibadan expressway, the Abuja-Kaduna-Kano Road (funded through the Presidential Infrastructure Development Fund), the construction and upgrading of about 5,000km of major road projects across the country through the Sukuk bond.''

"Rail sector investments include the Lagos-Kano standard gauge lines, and the Warri-Itakpe rail.''

"In the energy sector, this administration has green-lit NLNG Train 7, invested in the Ajaokuta-Kaduna-Kano (AKK) pipeline and is on track to complete an incremental 4,000MW of generating assets such as Zungeru Hydro and Kashimbilla Hydro to complement systemic reforms and investments in the distribution and transmission segments of the electricity value chain.''

"The administration is investing more than $2 billion in Distribution and Transmission through the Siemens Presidential Power Initiative, the Transmission, Rehabilitation and Expansion Plan, the CBN-financed Transmission-Distribution Interface Programme and the recently approved $500 million World Bank DISREP programme for the Distribution segment," he said.

The vice president also highlighted the federal government's N15 trillion Infrastructure Corporation (InfraCorp Nigeria) in 2021, the Reviewed National Integrated Infrastructure Master Plan (2020-2043) and the National Development Plan 2021-2025.

Osinbajo said the $2.3 trillion estimated resource requirement for the National Integrated Infrastructure Master Plan implementation was too large to be provided from public resources alone, even as he stated that a well-coordinated and strategic approach would be required to harness private resources to increase the stock of Nigeria's infrastructure to the desired level by the year 2043.

In his remarks, the Minister of State, Budget and National Planning, Prince Clem Agba, thanked the vice president for his leadership and selfless service to the nation.

https://allafrica.com/stories/202208240051.html

I trust my Infrastructure President to deliver on power, as promised.

PMB is really bullish on infrastructure . This legacy proved his critics including Pa Obasanjo to be wrong about their prediction about his government when he won in 2915.

May God grant PMB more success in all his great strides across the country.
God bless Nigeria for ever!

By far the best when it comes to infrastructure

FreeStuffsNG:
PMB is really bullish on infrastructure . This legacy proved his critics including Pa Obasanjo to be wrong about their prediction about his government when he won in 2915.

May God grant PMB more success in all his great strides across the country.
God bless Nigeria for ever!

Yes, and Nigerians can finally look forward to 24/7 power with confidence.

One thing about Buhari, whatever his other faults, is that his word is his bond.

At core he's really a typical grassroots Fulani muslim man, for whom honor and trust are essential living mores.

He's not the sort of president that they will allocate xx billion to some project, and then you'll be looking around and asking 'where is the project'?.... 'where is the money?'

NEVER.

Once Buhari says he will do something, he does it. Unless something unavoidable obstructs or delays it.

Moh247:
By far the best when it comes to infrastructure

Supported.