FG signs agreements to add over 500MW to national grid (photo)

In the pursuit of its goal of improving power supply in the country, the Federal Government on Thursday signed a number of agreements aimed at adding more than 500 MW of electricity to the National Grid.

The parties to the agreements were the FG, World Bank, Niger Delta Power Holding Company, NDPHC, Nigerian Bulk Electricity Trading, NBET, and the gas supplier, Seven Energy, an integrated gas company which is investing about $500m in the construction of gas processing facility at the Uquo Field in Akwa Ibom State.

Vice President Yemi Osinbajo said at the event that the agreements which would open up new opportunities for investments in Nigeria’s gas and power sectors would come into effect within 90 days.