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Nigeria, Siemens Sign 25,000MW Six-Year Electricity Deal

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Nigeria and electricity giant, Siemens, has signed a power deal that will lead to the production of 25,000 megawatts of electricity by 2025.

President Muhammadu Buhari gave the indication at the Presidential Villa on Monday during a meeting with the Siemens’s Global Chief Executive Officer, Mr Joe Kaeser.

He asked Siemens, the Transmission Company of Nigeria and the regulator to work hard to achieve 7,000mw and 11,000MW of reliable power supply by 2021 and 2023 in the first and second phases of the deal, respectively.

By 2025 when the contract will lapse, a total of 25,000MW is expected to have been met.

The deal came out of the August 31, 2018 meeting between the Nigerian President and the German Chancellor, Angela Merkel, in Abuja.

Buhari said on Monday, “We all know how critical electricity is to the development of any community or indeed any nation. “And in Nigeria, while we are blessed to have significant natural gas, hydro and solar resources for power generation, we are still on the journey to achieving reliable, affordable and quality electricity supply necessary for economic growth, industrialization and poverty alleviation.

“There have been many attempts at solving the electricity problem in our country. Previous governments have explored state-funded solutions through the ill-prepared National Independent Power Projects. They also explored the installation of large emergency power projects. There was also the partial privatization of the power generation and distribution sectors.

“These various interventions to solving the electricity problem have yielded an imbalance between the amount of power generated and the amount available for consumers. Despite over 13,000MW of power generation capacity, only an average of 4,000MW reliably reaches consumers. Now, we have an excellent opportunity to address this challenge.”

The President recalled that his administration’s priority was to stabilize the power generation and gas supply sectors through the Payment Assurance Facility, which led to a peak power supply of 5,222MW.

He, however, lamented that the transmission and distribution systems had remained major constraints.

He said, “This is why I directed my team to ask Siemens and our Nigerian stakeholders to first focus on fixing the transmission and distribution infrastructure, especially around economic centres where jobs are created.

While it was evident that more (work) needed to be done to upgrade the sub-transmission and distribution system, our government was initially reluctant to intervene as the distribution sector is already privatised.

“I am therefore very pleased with the positive feedback from private sector owners of the distribution companies, who have all endorsed government’s intervention to engage Siemens on this end-to-end plan to modernise the electricity grid.”

The President also said, “Our goal is simply to deliver electricity to Nigerian businesses and homes. My challenge to Siemens, our partner investors in the distribution companies, the TCN and the electricity regulator is to work hard to achieve 7,000MW of reliable power supply by 2021 and 11,000mw by 2023 – in phases one and two, respectively.

“After these transmission and distribution system bottlenecks have been fixed, we will seek in the third and final phase to drive generation capacity and overall grid capacity to 25,000MW.”

On his part, Kaeser recalled that a Letter of Agreement on the Nigerian Electrification Road map was submitted to the Nigerian President in November, 2018.

He explained that the road map would deliver 7,000MW in the first phase, and in the second phase, up to 11,000MW.

He said, “That will significantly enhance the country’s power supply and gets the country to the next industrial phase. We believe we will all very much benefit together, the people of Nigeria and of course Siemens as a company.

“I am very honoured that we were able to sign this road map today in the presence of the President and our partners. I will personally make sure that this will be a big success for Nigeria, Siemens and our partners in the country.”

BIG STORY

Thousands Flock To Lagos For Africa’s Biggest Shopping, Entertainment Event [PHOTOS]

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Thousands of excited Nigerians attended the opening day of the much-anticipated maiden edition of the Lagos Shopping Festival (LSF) on Monday, December 23 and were served up an electrifying feast of events, activities and promotions across the the main venue of the festival, the iconic Mobolaji Johnson Arena, (formerly Onikan Stadium).

As advertised, first day of the festival lived up to its billing with a colourful blend of commerce, music, innovation and creativity following its flag off by the Executive Governor of Lagos State, Babajide Olusola Sanwo-Olu.

The Lagos Shopping Festival, powered by the Lagos State Government in collaboration with Chain Reactions Africa, a frontline PR firm, and supported by leading brands, including Zenith Bank, Tolaram Group, First Bank Plc, and Guinness, will see millions of people hit the main venue and select Lagos malls to bag the latest bargains, and bring together the best of city’s retail offering, showcasing local and top global brands and shopping experiences, including in-mall promotions.

Speaking at the event, Governor Sanwo-Olu described the LSF as a history-making festival of back-to-back shopping, fun, and entertainment, reaffirming the Lagos state’s commitment to grow small businesses as well as the entertainment industry.

“This is the first of its kind and this event is made to bring shoppers with MSMEs, with innovators, with entertainers, with the creative industry, with the food industry and everybody,” said Sanwo-Olu.

“For the next three days, we are meant to all come together, enjoy good food, good music, sales at discounted market price, shopping at the highest level and just general entertainment with the creativity of Lagos,” the Governor added.

He called on all Lagosians and Nigerian to join the fun, shopping and entertainment.

“Call everybody from Iyana-Ipaja to Alimosho, call people from Agege, call them from Ebute-Meta to Shomolu, call them from Bariga, from Badagry to Ikorodu, from Epe to Ibeju-Lekki, call everyone to come to the arena here at the Mobolaji Johson Center in Onikan where we’ll be doing shopping, we’ll be doing music, we’ll be doing entertainment for the next two days. This is the first of its kind”, Sanwo-Olu added.

He assured all fun-seekers, buyers and sellers of their safety, saying that they are in a safe, secure, peaceful environment, urging them to “to sit back, relax and see another Lagos creativity that is the first, and the very first Lagos Shopping Festival”.

Governor Sanwo-Olu expressed his appreciation to the sponsors of the Lagos Shopping Festival for their unwavering support to drive the story of Lagos commerce, entertainment and creativity.

“I want to thank all of our sponsors from FirstBank, to Zenith Bank, to Tolaram, to Smirnoff Ice, to Indomie Noodles, to OmniBiz, to PowerOil, to Minimie, and to Malta Guinness, all of them, including the Lagos State Government. I want to thank you”.

He also commended all the local and small businesses at the festival, and urged Lagosians and Nigerians to always patronize them.

“More importantly, to all the small businesses that are inside and under the canopies, go out there and make good deals. Go out there and do huge purchases from them. Go out there and make their small-scale market, work for them; because here, we want the market to be meeting all of the shoppers. That’s what this is all about. It’s about buying stuff at the most reduced market. It’s about entertainment, it’s about food, it’s about tourism. This is what Lagos has given to you again,” Sanwo-Olu said.

Also, commenting, the MD/ Chief Strategist, Chain Reactions Africa, the organisers of the Lagos Shopping Festival, Mr Israel Jaiye Opayemi, buttressed the strategic significance of the festival saying, “LSF is poised to be the catalyst that will redefine the true essence of commerce, especially SME businesses, the creative ecosystem, and fun times with family, friends and loved one. LSF is sure set to open a new vista of socio-economic growth from Lagos, to Nigeria, whilst raising a unique bar in the African market”.

Fun-seekers and business men and women alike had entertainment value for their time, with dancing and singing competition with the winners adjudged by the audience receiving cash gifts. The highlight of the day was the energy-revving musical performances from the youthful Ayo Maff, with the soulful rendition of songs from Adekunle Gold the icing on the cake for the audience who kept singing along to his enchanting stage performances.

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JUST IN: Oriyomi Hamzat, Queen Naomi, School Principal Remanded In Agodi Prison Over Ibadan Stampede

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The Chief Magistrate Court sitting in Iyaganku, Ibadan, Oyo State has ordered the remand of Prophetess Naomi Silekunola, Alhaji Oriyomi Hamzat, and Mr. Abdullahi Fasasi at Agodi Correctional Center following their roles in the Ibadan Children Funfair stampede last week.

Amid heavy security, the three individuals, including the principal of Islamic High School, Bashorun Ibadan, Mr. Fasasi; the proprietor of Agidigbo FM, Alhaji Hamzat; and the estranged wife of the Ooni of Ile Ife, Oba Enitan Adeyeye Ogunwusi, Naomi Silekunola, were on Tuesday arraigned before the court over the incident.

The trio were arrested in connection with the Wednesday, December 18, 2024, stampede that occurred at Islamic High School, Ibadan, resulting in the death of 35 minors, while others sustained injuries.

Chief Magistrate Olabisi Ogunkanmi gave the order following the arraignment of the suspects in court on Tuesday.

The Police prosecutor accused the defendants of committing an offense contrary to Section 324 of the Criminal Code, Cap. 38, Vol. II, Laws of Oyo State of Nigeria, 2000 in a four-count charge for which they were arraigned.

The court premises was filled with relatives of the defendants and other interested parties.

 

More to come…

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JUST IN: Dele Farotimi Finally Released After 21 Days In Detention

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Dele Farotimi has been released from detention in Ekiti after spending 21 days in a cell, following a complaint from Afe Babalola, SAN, who accused the human rights lawyer of defamation in his recently published book Nigeria And Its Criminal Justice System, a global bestseller on Amazon.

Farotimi was released on Tuesday after meeting the bail conditions set by an Ekiti Chief Magistrate’s Court on December 20, according to fellow activist Omoyele Sowore.

“I am pleased to report that Dele Farotimi is no longer being held at the prison yards in Ekiti State and is now returning home to Lagos,” Sowore shared the news on his X handle today.

“The struggle continues! Happy holidays to you all!”

 

More to come…

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