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TCN Needs $1.5bn Annually To Meet 20,000MW Target
The Transmission Company of Nigeria (TCN) yesterday in Abuja said the company required $1.5 billion annually to meet the 20, 000 mega watts transmission target by 2020.
The Managing Director of TCN, Mr Mack Kast, disclosed this at press briefing on the activities of the company.
Kast said the TCN was working hard to develop its transmission capacity across the country and to secure an additional funding to address the infrastructure deficit and operations.
“In terms of developing transmission capacity to 20,000 mega watts by the year 2020, our projections indicate that we would need between one to $1.5 billion per year to make that a reality.
“It is a significant amount of money, but we are working hard to find the sources for that money,” he said.
He said the TCN was currently working on a five-year expansion plan and an overall 20-year master plan to enable the company to realise the Federal Government’s target of transforming the sector.
Earlier, Chairman of TCN Board, Alhaji Ibrahim Waziri, pledged to ensure zero systems collapse and efficient market operations in line with international best practice.
Waziri said that the TCN was currently working on 165 initiatives and projects aimed at doubling power wheeling capacity from the modest 5,000 to 10, 000 megawatts.
‘We have over 165 ongoing initiatives and projects aimed at doubling our power wheeling capacity from a modest 5,000 to 10,000 mega watts, of which we are confident of 7,000 megawatts on a balanced delivery as of now.’’
Speaking on the Manitoba contract, he said that the board had put in place machinery to review the milestone deliverables of the contract and set robust annual performance targets for the company.
Manitoba Hydro International (MHI) is a Canadian Electricity Company contracted by the Federal Government to manage the TCN following the privatisation of the sector.
Waziri said the TCN had also intensified training and capacity building for both new and old staff with a view to revitalising the workforce and optimising service delivery.
He stressed the need for more foreign and local investors to invest in the sector to make it more vibrant and efficient.
The chairman, however, decried some of the challenges in the sector, which he said, included gas to power plants, pipeline vandalism and inadequate funding.
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RSG INAUGURATES ARMED FORCES REMEMBRANCE DAY COMMITTEE
The Rivers State Government has inaugurated a Central Planning Committee to organize the celebration of the 2026 Armed Forces Remembrance Day (AFRD) in the State.
The committee was formally inaugurated by the Secretary to the State Government, Dr. Benibo Anabraba in Port Harcourt, last Thursday.
Dr Anabraba who also serves as Chairman of the Committee
highlighted the State Government’s deep appreciation for the sacrifices of Nigeria’s fallen heroes who laid down their lives for the nation’s peace and unity.
“These heroes have given their lives for the security and peace of our nation and deserve to be celebrated. The Armed Forces Remembrance Day is an opportunity to show our gratitude for their sacrifice,” he said.
Dr. Anabraba further extended recognition to all Security Agencies in the State, emphasizing the importance of the event in appreciating their contributions to national security and sovereignty.
The annual Armed Forces Remembrance Day, observed on January 15 across the country is dedicated to remember Nigeria’s departed soldiers and honouring the nation’s veterans.
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