Tag: Presidential Power Initiative

During a working visit to Beijing to engage original equipment manufacturers and technical partners of the Presidential Power Initiative, the Minister of Power met with TBEA, one of China’s leading power and energy equipment manufacturers, at their headquarters. The outcome of the engagement is a commitment to establish a power and energy equipment industrial park in Nigeria, a move officials say changes the country’s long standing status as a net importer of power sector equipment. Officials described the park as positioning Nigeria as a manufacturing and export hub, building indigenous supplier capacity and creating jobs, with TBEA regarded as a long term strategic development partner rather than a mere contractor. The Ministry said its investment thesis is clear, seeking capital that comes with technology transfer and local capacity building attached, rather than short term contracting arrangements. Alongside the new park, TBEA renewed its commitment to accelerate delivery of ongoing transmission and distribution projects across Nigeria, work expected to unlock over 2,000 megawatts of stranded capacity and strengthen bulk power supply to the Federal Capital Territory. The Minister used the engagement to press for faster completion of Presidential Power Initiative works and to advocate for extending planned grid infrastructure to the East West corridor. Discussions were also opened on the feasibility of electric vehicle charging infrastructure, a new investment frontier as Nigeria’s grid modernises around renewable energy and storage. Officials said the outcomes reflect a broader shift underway in Nigeria’s power sector, from importing equipment to building it, and from stranded capacity to power that reaches homes and industries. The goal, officials stressed, is a power sector capable of supporting Nigeria’s industrialisation and sustained economic growth in the years ahead. By Asiwaju Adekunle Saheed