Nigeria and Siemens AG have signed a major deal to boost power supply in Nigeria. The key details of the power supply deal is highlighted below. The president and a few government handles provided some insights about the deal while announcing it.
In this article we will be providing details of this Nigeria-Siemens power supply deal. This will be based largely on the information the Nigerian President and other government officials provided through their twitter handles. We will add more details as we learn more.
Details of Nigeria – Siemens power supply deal
- Discussions for the deal started in August 2018 during German Chancellor Merkel’s visit to Nigeria. Siemens AG was a part of the delegation that came with Merkel
- The Deal is called the Nigeria Electrification Roadmap
- According to the Nigerian President the goal is “to deliver more electricity to Nigerian businesses and homes”
- The President has set a target of 7000 MW of reliable electricity by 2021 for the phase 1 of the project
- The phase 2 of the project is expected to deliver at least 11,000 megawatts of reliable electricity by 2023
- The final phase (phase 3) of the project will boost overall grid capacity to 25,000 MW by 2025
- The Deal is aimed at upgrading Nigeria’s Electricity transmission and distribution infrastructure
- Deals will be done at a governmental level without middlemen. This government to government model is aimed at saving cost and best value to taxpayers
- The Deal is an agreement between the Nigerian Government, German Government, and Siemens AG of Germany
- All components to be used in the project will be manufactured to the highest German and European standards
- The CEO of Siemens AG, Joe Kaeser was present for the signing ceremony which took place on July 22, 2019
We will add more details about the deal when we know more. Bookmark this page and check-back for more details.