TCN SECURES $1.4BN TO EXPAND NIGERIA’S POWER GRID

The Transmission Company of Nigeria has secured more than $1.4bn in loans and grants from multilateral development partners to expand and strengthen the country’s electricity transmission network.

The funding is expected to support projects aimed at improving grid capacity, reducing transmission bottlenecks and increasing the reliability of electricity supply across Nigeria. TCN said its transmission capacity has now risen to more than 8,700MW.

The investment comes as the Federal Government intensifies efforts to address longstanding challenges affecting Nigeria’s power sector, including ageing infrastructure, limited transmission capacity and recurring system disruptions.

The additional funding is expected to support the development and rehabilitation of critical transmission infrastructure while improving the ability of the national grid to evacuate electricity generated by power plants.

TCN’s increased transmission capacity is also expected to provide greater room for generation companies to supply more electricity to consumers once other constraints across the power value chain are addressed.

The development comes amid wider government plans to stabilise the national grid and modernise key transmission corridors.

The Federal Ministry of Power has said planned interventions will focus on reinforcing critical infrastructure, expanding grid redundancy and modernising control and monitoring systems.

The government has also constituted a technical working committee to identify major bottlenecks and coordinate interventions with TCN and the Nigerian Independent System Operator.

The latest financing is expected to support Nigeria’s broader objective of improving electricity reliability, attracting investment and strengthening economic activity that depends heavily on stable power supply.