Nigeria will sell electricity to four West African countries through its electricity generation businesses (GenCos).
Sule Abdulaziz, interim managing director of the Transmission Company of Nigeria (TCN) and chairman of the West African Power Pool’s executive board, announced this at a meeting in Abuja on Wednesday.
Togo, Burkina Faso, Republic of Benin, and Niger Republic are planned to purchase power through the $570 million North Core Power Transmission Line, which is now under construction.
Nigeria already exports power to neighboring countries such as Benin Republic, Togo, and Niger under an international treaty.
“Nigeria has the greatest advantage among these countries because the electricity is going to be exported from Nigerian GenCos, ” Abdulaziz said.
“So from that, the revenue is going to be enhanced and a lot of people will be employed in Nigeria.”
“The cost is roughly $570 million,” WAPP secretary-general Siengui Appolinaire Ki said. “Part of the investment in each country is sponsored by the government, and they are backed by donors, and Nigeria is taking its own.”
He stated that the financial deal was complete and that the participating countries were awaiting payment.
“However, the donor agencies had said they needed a power purchase agreement (PPA) between the buying and the selling countries to be executed before releasing the fund,” he added.
“So, we will be addressing the ministers on this, so they can talk to the donors to remove this condition for disbursing the fund and let’s go on with the implementation.”
