Nigeria Requires N1trn For Efficient Electricity Transmission – TCN
The Transmission Company of Nigeria requires nothing less than N1tn to efficiently wheel electricity through the national grid. The Executive Director, Transmission Service Provider,(TCN), Victor Adewunmi, said this at the 52nd Power Dialogue of the Nigeria Electricity Hub on which held online in Abuja on Wednesday. He said TCN would require the sum to make the country’s power grid stable, adding that the $1.6bn which the transmission was getting from International agencies would not be enough to stabilise the grid. He said, “But with the current kind of fund that is entering TCN, there is no way TCN can embark on that. This is because the Discos are not giving us the required money, we are getting less than 60 percent of TCN tariff.” He however, stated that the Discos would not receive all the blame as many power users were involved in electricity theft. This came as senior officials of the African Development Bank and the Enugu Electricity Distribution Company stated that the Nigerian power sector was not bankable.