Nigeria , Japan Sign $21M Pact to rehabilitate Lagos Transmission Substation
The Federal Government on Friday, in Abuja signed a grant aid project for Emergency Rehabilitation and Reinforcement of the Lagos Transmission Substation.
The Honourable Minister of Budget and National Planning Senator Udoma Udo Udoma signed on behalf of the Federal Government of Nigeria while the Japanese Ambassador Extraordinary and Plenipotiary to Nigeria, Mr.Yutaka Kikuta signed on behalf of the Government of Japan.
The Minister said the project is donated by the Japanese Government at the cost of two billion, three hundred and forty- nine million Japanese Yen (Y 2,349,000,000 – USD 21.088 million).
Senator Udoma also stated that attaining power self sufficiency is indeed one of the goals of the Economic Recovery and Growth Plan (ERGP).of the Federal Government. “As you know the ERGP sets out our four year plan for the transformation of our country. The ERGP aims to restore growth, invest in people and build a globally competitive economy. But not just to restore growth, but a growth that is diversified, inclusive and sustainable. Amongst its execution priorities is the attainment of energy self sufficiency in power and petroleum products”.
He recalled that in 2016, Nigeria had signed an Exchange of Note (E/N) for Emergency Improvement of Electricity Supply in Abuja with the Government of Japan, a project that has been completed and now contributing to stable power supply in Abuja. He added that Japan had equally played a role in the design of a master plan study on National Power System Development in Nigeria.
The Japanese Ambassador in his remarks disclosed that electric power is key to industrialization for any country as power supply is one of the factors foreign investors consider. Adding that economic position of Lagos state as a commercial and industrial center of Nigeria underlines strategic importance of this project to strengthen power infrastructure.
Mr. Yutaka noted that “The focus of power sector is in line with one of Japanese’ principles of TICAD process towards African countries’ economic and social development. He then informed that in 2019, the Government of Japan will host TICAD 7 meeting in Yokohama where leaders from Nigeria and other African countries are expected to discuss ways to promote further development of the African continent and how Japan can contribute to the process”.
Earlier in his remarks, the Permanent Secretary of the Ministry, Mr. Dr S. Odewale lauded the Japanese government for their support and called for more collaboration especially on human resource development.
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Report By: PRNigeria.com