FG Okays N13bn, $34m for Transmission Project, Transformer Upgrade

The Federal Government has approved N13 billion for compensation in the Lagos Industrial Transmission Project and $34 million for the procurement and installation of transformer upgrades. The project aims to modernize the aging transmission infrastructure, improve supply reliability, and meet the increasing electricity demand nationwide.

The compensation will be used to compensate property owners and communities affected by the transmission line route. The project, funded by a $238 million loan from the Japan International Cooperation Agency, targets boosting supply to key industrial clusters in Lagos.

The transformer upgrades include units of various capacities strategically deployed across the national grid to relieve overloaded facilities, improve voltage stability, and accommodate increased transmission capacity. This approval is a significant step in the government's efforts to reform the power sector and ensure sustainable economic growth and improved electricity access.