Nigeria and Siemens have signed a major deal to boost power supply in Nigeria. The details of the power supply deal is still sketchy but the president while announcing the deal gave some insight.
In this article we will be providing details of this Nigeria-Siemens power supply deal. This will based largely on the little information the president provided through his twitter handle. We will add more details as we learn more.
Details of Nigeria – Siemens power supply deal
- Discussions for the deal started in August 2018 during German Chancellor Merkel’s visit to Nigeria. Siemens AG was a part of the delegation that came with Merkel
- According to the Nigerian President the goal is “to deliver more electricity to Nigerian businesses and homes”
- The President has set a target of 7000 MW of reliable electricity by 2021 for the phase 1 of the project
- The phase 2 of the project is expected to deliver at least 11,000 megawatts by 2023
- Deals will be done at a governmental level without middlemen. This government to government model is aimed at saving cost and best value to taxpayers
- All components to be used in the project will be manufactured to the highest German and European standards
- The CEO of Siemens AG, Joe Kaeser was present for the signing ceremony which took place on July 22, 2017
We will add more details about the deal when we know more.
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