Nigeria’s Ministry of Power announced in a press statement that the nation has signed a deal worth up to $200 million (N31.6 billion) with two French firms in an effort to fix the nation’s epileptic power supply.
Power Minister, Prof. Bart Nnaji said the deal with French power giant EDF and ETDE has been in the works since 2008. According to the statement the firm will first conduct a feasibility study before constructing a high-voltage transmission line and power distribution substations, the statement from Nigeria’s Ministry of Power said.
“EDF and ETDE will source the funds from their home governments to execute specific feasibility studies as well as select a specific project that will help expand the transmission grid,” the statement said.
While definitive figures were not disclosed, Nigeria’s Power Minister Bart Nnaji said the parties will agree on a project estimated to cost between $100 million to $200 million, the AFP reported.
Poor and inconsistent power supply across Africa’s most populous country has long been a thorn in the side of residents in the country. Business owners are forced to rely on diesel-consuming electricity generators to power up their business, which an added strain to the struggling citizens of the oil-rich country.