- FEC has approved finance for the acquisition of TCN infrastructure.
The Federal Executive Council (FEC) has endorsed ₦1.4 billion to support the purchase of more equipment for the Transmission Company of Nigeria (TCN). These funds have been approved to boost the electricity supply across the country.
According to a report by The Guardian, the Minister of Power, Abubakar Aliyu, made this announcement while briefing State House Correspondents on the result of the meeting of the council, presided by President Muhammadu Buhari on Wednesday in Abuja.
He stated, “I presented two memos from the ministry of power for the Transmission Company of Nigeria. The first one was a variation of the sum of a contract for 132/33 KV substation at Kafanchan, Kaduna State, with a KV line base extension at Jos substation, in Plateau State. This is in the sum of N132, 705, 861.42.”
The minister also noted that the second approval he got was for the supply of handling equipment and operational vehicles for the Transmission Company of Nigeria at the cost of N1.3 billion. “The second memo was for the supply of handling equipment, haulage, and operational vehicles for the TCN at N1,338,159,080.88. They are heavy lifting equipment that the TCN requires for doing its work in the store and on the field while changing equipment and moving transformers.”
“The council graciously approved,” Aliyu said.