{"id":144642,"date":"2024-09-01T14:51:55","date_gmt":"2024-09-01T13:51:55","guid":{"rendered":"https:\/\/newsdigest.ng\/?p=144642"},"modified":"2024-09-01T14:51:55","modified_gmt":"2024-09-01T13:51:55","slug":"release-million-power","status":"publish","type":"post","link":"https:\/\/thepublicpulse.ng\/?p=144642","title":{"rendered":"FG to Release $800 Million for Power Infrastructure Upgrade"},"content":{"rendered":"<p>The Minister of Power, Adebayo Adelabu, has announced the federal government\u2019s plan to release $800 million for the construction of substations and distribution lines under the Presidential Power Initiative. The funds will be allocated as $400 million each for Lot 2 and Lot 3.<\/p>\n<p>Lot 2 will cover the franchise areas of Benin, Port Harcourt, and Enugu Distribution Companies (DISCOs), while Lot 3 will cover Abuja, Kaduna, Jos, and Kano DISCOs. <\/p>\n<p>Adelabu made this announcement during a visit to the TBEA Southern Power Transmission and Distribution Industry in Beijing, China, where he is attending the China-Africa Cooperation Summit.<\/p>\n<p>\u201cThis is truly regrettable, considering that the government is on course to increase generation to 6,000 megawatts by the end of the year,\u201d Adelabu said regarding the reduction of power generation from 5,170 megawatts to 3,770 megawatts due to DISCOs&#8217; inability to absorb the supply.<\/p>\n<p>He assured the federal government\u2019s commitment to working with world-class organizations like TBEA to achieve President Bola Tinubu\u2019s Renewed Hope vision for the power sector. <\/p>\n<p>Adelabu emphasized the need for transformation, noting that the challenges in the sector are partly due to outdated infrastructure. \u201cThis has led to the historical epileptic supply of power to households, industries, and businesses,\u201d he said.<\/p>\n<p>He also highlighted that over 59 percent of industries in Nigeria operate off the grid due to the unreliability of the national grid. <\/p>\n<p>Reflecting on past power generation, Adelabu noted, \u201cIn 1984, about 40 years ago, Nigeria was able to generate 2,000 megawatts, and it took over 35 years to add an additional 2,000 megawatts.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Minister of Power, Adebayo Adelabu, has announced the federal government\u2019s plan to release $800 million for the construction of substations and distribution lines under the Presidential Power Initiative. The funds will be allocated as $400 million each for Lot 2 and Lot 3. Lot 2 will cover the franchise areas of Benin, Port Harcourt, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":144849,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[18],"tags":[100,713],"class_list":{"0":"post-144642","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-fg","9":"tag-minister-power-adebayo-adelabu"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FG to Release $800 Million for Power Infrastructure Upgrade - The Public Pulse<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thepublicpulse.ng\/?p=144642\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FG to Release $800 Million for Power Infrastructure Upgrade - The Public Pulse\" \/>\n<meta property=\"og:description\" content=\"The Minister of Power, Adebayo Adelabu, has announced the federal government\u2019s plan to release $800 million for the construction of substations and distribution lines under the Presidential Power Initiative. 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