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
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