Buhari, Funding, Nigeria, Siemens Electricity Deal

Buhari, Funding

Buhari approves Nigeria, Siemens electricity deal funding

5/28/2020 10:50:00 AM

Buhari approves Nigeria , Siemens electricity deal funding

John Ameh, AbujaThe President, Major General Muhammadu Buhari (retd.), has given the nod to a German firm, Siemens AG, to begin the concessionary funding and provision of technical support to the country’s power sector.According to the official twitter handle of the Presidency, @NGRPresident, Buhari had already directed the Ministry of Finance, Budget and National Planning, the Ministry of Power and the Bureau of Public Enterprises “to conclude the engagement with Siemens AG to commence the pre-engineering and concessionary financing aspects of the Presidential Power Initiative.”

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The PPI, which transited from the Nigerian Electrification Road Map, first muted in 2018, aims to upgrade power infrastructure in the country as part of efforts to halt frequent blackouts.“All items to be purchased were provided by the distribution companies and Transmission Company of Nigeria and they will be vetted by a professional project management office,” the Presidency stated.

It explained that the concessionary terms included a three-year moratorium and a “12-year repayment at concessionary (interest rates) through the German Euler Hermes cover, which Nigeria will on-lend as a convertible loan to the other shareholders in the Discos.”

The Presidency added, “All Discos have, directly, and through the BPE, been diligently carried along over the last 15 months to understand in detail the challenges in the electricity system.“The PPI is a power infrastructure upgrade and modernisation programme agreed to by Nigerian government and Siemens AG of Germany, with the support of the German Government.

“Under the PPI, Nigerian government will on behalf of the other shareholders in the Discos invest in infrastructure upgrades in the form of improved payment systems, distribution substations, transformers, protection devices, smart meters, transmission lines, etc.

“President Buhari has approved the release of funding for the first part of Phase 1 of the PPI, to kick off the pre-engineering and concession financing work streams.”The two presidential spokespersons, Mr Femi Adesina and Mr Garba Shehu, did not respond to enquiries by

The PUNCHto confirm the @NGRPresident tweets as of 6.05pm.Copyright PUNCH.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

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I hope we will see an improvement in electricity between December and year 2030 cos this madness can't continue I swear Fake Buhari Jubrin Al Sudan blackbeauty4mu1 I can still remember vividly Siemens irregularities during Obasanjo's era. 🤷🏽‍♂️ Is this guy a mad man He is doing well Does he know of an alternative? We all know the usual routine!!!where should I sign president!!!

Circles Siemens does not have good track record in managing electricity... Do me a favour: pls help retweet. Thank you. Secure ur car from theft Monitor the activities of ur driver Recover your stolen car Listen to conversations in and around your car With just a tap on your smart phone. I'm just a DM away

This man dey look more serious and smart only for pictures, lol Good deal Mr President MBuhari . Let there be more companies to accomodate room for competition Give us light, only light , u will deify u Leadership failure and corruption is the bane of stable power supply in Nigeria, it has always been. We commend MBuhari for his efforts in solving the perennial epileptic power supply. We cannot afford to remain this way. GreaterNigeria StablePower EnoughIsEnough

if we look back and front then we would realize that nothing good has come out of this current administration except empty promises even before they are elected into office, we are been deceive daybyday, Nigeria is far below sea 🌊 level at the moment YeleSowore Leadership failure and corruption is the bane of stable power supply in Nigeria, it has always been. We commend MBuhari for his efforts in solving the perennial epileptic power supply. We cannot afford to remain this way GreaterNigeria StablePower EnoughIsEnough

Baba we need the approva🙏 this deal 🤝 is like from frying 🍳 pan to fire 🔥 Faceless presidon This is a good development in the Power sector. Until Nigerian reason it well that electricity is been exported from their country to other African nations, then they will know how scammicious these leaders are?

Dead man don't sign contracts, Rest in pieces Siemens is coming back as semens... LoL is what it is... Siemens has a very good track record outside Nigeria cos over der is check and balances but in our Country anything goes cos chop I chop syndrome, will nt blem the Gov't for given them another trial cos today 2nd niger bridge is going on smoothly, cos there's check n balances.

This is the last deal Abba Kyari did in Germany before he kicked the bucket For those power Worshippers that says he was serving NigeriaGov I have a Q&A Was he the minister of power? Why was he doing power ministry deal? Just want us to set the record straight cos youths I knew this where it will end.... 2 weeks ago, TCN MD was changed, a day after, Senate move to review or withdraw Discos power concession agreement and here A new face unveiled. God help. I hope and believe based on record that Siemens will deliver.

Why e no sign motorola for electricity since all of us dey mad for this place God bless president buhari he's the best president ever in this our beloved country Please, assist me to get 1 Ethereum by just clicking on my link below 👇🏽 and completing the telegram task, which won't take you more than 1 minute, please help a brother 🙏🏽 The quickest and the surest means to earn free Ethereum.

Open schools!!!!!! Waste of resources Good luck sir Please, let them take over Nigeria Electricity, both Generation, Transmission and Distribution. My president work on the electricity to be stable and leave the rest for Nigeria You mean the new COS aso rock is empty nobuhari novp nocos aisha buhari is the unelected presidency now and you are paid to deceive 200 and above millions of nigerians what is your benefit for this criminal act punch newspaper directors?

Thank you baba Mugu😈 I hope this deal won't become another story for the gods. Can't the young just RULE this nation... Am tiref of seeing this old faces 😏😏 Hold on! Y’all didn’t confirm the story from the two presidential spokesperson but still went ahead with the story? Interesting 🤔 A good one. But Siemens has been in Nigeria for quite some time , yet we opted for incompetent operators.A queer leadership question.

Another audio project from an audio President.....Sinzumoney You only approve things on Twitter and Facebook but not realistic 2,726MW is what the sleeping giant of Africa can of as at today. Very poor. Meanwhile Siemens doesn't have any good track record in this field. The stats are there. So much infrastructure spending, so much borrowing. In the future, this government will either be hailed as being ahead of its time or criticised as the ultimate villain

Same Siemens again? Them curse una ni? Why same power Coy over many years? Why not GE or another for God sake? Mumu President The weakling again🤣🤣 LetterFromCynthiaMorgan wizkidfc The Phantom of the Opera has been playing that pipe organ again Dead President FUELESS GENERATOR is here, but where are you? Follow us mac_official_co for up-to-date developments on FUELESS GENERATOR in NIGERIA

There's a massacre in Kaduna There's a massacre in Kaduna There's a massacre in Kaduna There's a massacre in Kaduna There's a massacre in Kaduna!! Copy and paste, let it get to the relevant authorities. MBuhari is a dead man Na robot sit down for sit Speak the truth aishambuhari or you die

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Nigeria lucky to have Buhari – AdesinaOf course yes. We are lucky to have a failure has president. I don't like abusing people on here but thunder go fire this Adeshina Mad man

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