World Bank to support Nigerian transmission network with $486M
Nigeria: Speaking at a meeting with operators in the power sector in Nasarawa, the Transmission Company of Nigeria (TCN)’s Interim Managing Director, Mr. Usman Gur Mohammed, said the World Bank has shown interest to support Nigeria’s Transmission Rehabilitation and Expansion Programme (TREP) with $486 million.
“The TREP program has attracted significant interest from several donors. One of the donors which signify interest in TREP is the World Bank with the sum of $486 million,” Vanguard cites Mr. Mohammed.
The TREP program seeks to stabilise, expand and provide the needed flexibility to distribution companies, and includes strategies for completing existing projects either through in-house capacity or through the fast-tracking existing contracts.
Through this process, several transformers and substations will be completed in the first quarter of 2018.