Business
NIPP Panel Approves N283bn For Power
The Presidential Steering Council on the National Integrated Power Projects (NIPP) presided over by Vice-President Goodluck Jonathan, yesterday, approved N283 billion for power projects.
The council also said the acceptance of the amnesty by Niger Dela militants was crucial to regular power supply.
The approval is to take care of the second phase of the power projects and rehabilitation of Power Holdings Company of Nigeria (PHCN) plant.
The breakdown of the approval revealed that N15.4 billion was voted for the eight PHCN transmission projects and $13.5 million for the transmission lines to Jalingo.
The council voted N132.6 million and $801.4 million for Omotosho and Geregu plants.
Another N1.9 billion was also approved as running cost for the NIPP Secretariat.
Briefing reporters at the end of the council’s meeting yesterday, Governor Olusegun Oni of Ekiti State said: “We also approved for the second phase of the NIPP which will cover Omotosho and Geregu Power plant and the transmission line.
“The council approved N15.46 for the PHCN transmission projects and additional $13.5 million for the transmission line to Jalingo.”
He added that N1.9 billion was domiciled in the Niger Delta Power Holding Company to take care of salaries and operational cost for one year.
The Minister of State for Power, Nuhu Way, said the approval was meant to realise all projects outlined to actualize the 6,000mw and 10,000mw by 2011.
“All the approvals for the implementation of the projects between now and 2011 have been finalized.”
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