FG signs $23m electricity deal with Canadian firm

ABUJA (AFP) – The Federal Government on

Monday signed a $23 million deal with a

Canadian firm aimed at overhauling power

transmission in Africa’s most populous

nation, part of plans to improve its woeful

electricity network.

Manitoba Hydro International (MHI) signed

the management accord that will see it

reorganise the Transmission Company of

Nigeria, with the aim of eventually

privatising part of it, the firm said.

“MHI expects to turn TCN into a technically and financially efficient, stable, and sustainable

company, a company that will be market-driven and capable of utilising its maximum

generation capacity and then distributing the energy throughout Nigeria 24 hours a day, 365

days a year,” the company said.

The head of the Bureau of Public Enterprises, Bolanle Onagoruwa, told reporters the contract

was worth $23 million.

Nigeria is Africa’s largest oil producer, but electricity blackouts occur daily.

President Goodluck Jonathan has laid out plans to privatise electricity production and

distribution in the nation of some 160 million people. The country’s electricity grid would

remain state-owned, but privately managed.

Electricity workers fearing layoffs have protested, including in recent days, over the planned

overhaul.