President Bola Tinubu and German Chancellor Olaf Scholz presided over the signing ceremony in Dubai, United Arab Emirates.

Kenny Anuwe, Managing Director of the Federal Government of Nigeria Power Company, signed on behalf of Nigeria, while Nadja Haakansson, Managing Director (Africa) at Siemens AG, signed for Germany.

“Speaking after the signing ceremony in Dubai, Managing Director of the FGN Power Company, Mr. Kenny Anuwe highlighted Siemens Energy’s effective delivery of crucial equipment worth over 63 million Euros to the country since the project commenced,” the statement read.

“This includes 10 units of 132/33KV mobile substations; 3 units of 75/100MVA transformers, and 7 units of 60/66MVA transformers, currently being installed by FGN Power Company at various sites across Nigeria.

“The project will also focus on identified load demand centres with a particular emphasis on economic and industrial hubs nationwide; execution of new 330kV and 132/33KV substations in target load centres with economic priority, in addition to thousands of kilometres of overhead transmission lines to connect new substations with existing ones.”

The project will concentrate on load demand centres, focusing on economic and industrial hubs nationwide.

 It involves the establishment of new substations, execution of transmission lines, and the modernization of the power transmission grid.

The objective is to connect new substations with existing ones, enhancing the overall efficiency of the power system.

President Tinubu has consistently advocated for the accelerated realization and expansion of the Presidential Power Initiative (PPI). The project has been a key point in discussions between the President and the German Chancellor during various meetings in New Delhi, Abuja, and Berlin.

The agreement sets the stage for the comprehensive modernization and expansion of Nigeria’s electric power transmission grid. Siemens will be responsible for the full supply, delivery, and installation of equipment, with a timeline of 18 to 24 months.

The agreement also emphasizes project sustainability, maintenance, technology transfer, and training for Nigerian engineers at the Transmission Company of Nigeria (TCN).