FG Approves N263bn for First Phase of Presidential Power Initiative (Siemens Project)

The Federal Executive Council has approved N262.75 billion for the first phase of the Presidential Power Initiative, a Siemens-led project aiming to upgrade power substations in Nigeria. The funding will support the construction and refurbishment of 32 high-voltage transmission lines across the country.

The Federal Executive Council has approved a substantial funding of N262.75 billion for the first phase of the Presidential Power Initiative, also known as the Siemens Project. This project aims to enhance Nigeria's power infrastructure and was funded at a total cost of N263bn. The appropriation will support the development of power substations under the initiative.