France, through its development agency – the French Development Agency (AFD), has approved for the Transmission Company of Nigeria (TCN), a total of $245 million financial package to undertake its expansion of Nigeria’s electricity grid at the northern ends of the country.
A statement from TCN’s General Manager, Public Affairs, Mrs. Ndidi Mbah, explained that the board of AFD approved the $245 million on December 20, 2018.
Mbah, stated that the funding would enable TCN undertake the Northern Corridor Project under its Transmission Rehabilitation and Expansion Program (TREP).
She noted that apart from the AFD’s $245 million financial package for the project, the European Union (EU) had earlier approved a grant of €25 million for the project.
According to her, the approval of the Northern Corridor Project by the board of AFD and European Union was a significant step towards establishing a modern electricity grid in Nigeria.
She noted that while the TREP sought to rehabilitate, stabilise and provide necessary transmission redundancy consistent with international standard in the form of N-1, as well as expand the national grid to take at least 20,000 megawatts (MW) of generated electricity soon, its implementation has attracted significant support from multilateral and bilateral donors such as the AFD; World Bank; African Development Bank (AfDB); and Japan International Cooperation Agency (JICA). Read more