Nigeria, Canada to ink new $2.3b power deal

The Federal Government and a Canadian firm, TREDIC Star Core are working on a $2.3b power deal which could improve Nigeria’s electricity generation by 1,652 megawatts (MW).

The deal could ensure the creation of 23 micro-power stations across the country. This revelation was made by the representative of the power firm in the country, Abayomi Olushola Falana, who dropped a hint about the deal.

The Details: Falana noted that the locations of the power stations would be based on numerous factors. The factors include heavy manufacturing, mining operation, large-scale agricultural undertaking, industrial clusters, among others.

He added that the firm had sent a proposal to the Federal Government on how to roll out 23 Small Modular Reactors (SMR) which will help in producing nuclear energy in the country.

Electricity tariff, The number of idle power plants in Nigeria rises to 10 , Nigeria, Canada to ink new $2.3b power deal 

Falana highlighted the importance of the deal, noting that it was for the benefit of millions of Nigerians, to help them access power for the growth of economic activities. The deal is, however, still in the works, subject to the Federal Government’s approval.

Canada is not the only country looking to cut power investments in Nigeria.

Last week, the United Arab Emirates (UAE) constructed a 300 megawatts (MW) renewable energy plant in Lagos to aid power distribution. This was disclosed by the Ambassador of UAE to Nigeria, Fahad Obaid Al Taffaq during a courtesy visit to the Minister of Power, Sale Mamman in Abuja.

Al Taffaq told the minister that the energy plant was ready for use in Lagos and was expected to support power being supplied through the national grid. He also added the plant was constructed by a member of the emirate royal family, Ahmed Al-maktum, adding that the plant had the capacity to expand to about 1,000 MW in a few months.

The meeting was to seek the Minister’s permission as well as obtain a generation license and tariff from the Lagos State Government for the project to be operational. Al Taffaq assured the Minister that all agreements to supply gas to enable the smooth running of the plant had been concluded with Shell. He also informed the Minister of UAE’s plans to invest in power transmission and distribution across Nigeria.



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