FEC Okays 161.3m euros for Phase 1 Siemens Power Project

The Federal Executive Council, FEC, meeting presided over by President Bola Tinubu on Monday approved the sum of 161,328,228 euros for the execution of contracts in the first batch of the Phase 1 of the Siemens Power projects across the country.

Tinubu after extensive deliberations at the FEC also approved N1.7 billion for the acquisition of an office complex for the National Electricity Liability Management Company, NEMCO, in Abuja.

Briefing newsmen after the meeting, Minister for Power, Adebayo Adelabu said: “At the Federal Executive Council meeting held this afternoon, there were basically two approvals for the Federal Ministry of Power, as I presented. The first was actually an approval for the award of contract for engineering, procurement, construction and financing for the implementation of the 331 32 KV And 132 33 KV substations upgrade under the Phase One of the Presidential Initiative, popularly known as the Siemens project, consequent upon completion of the pilot phase of this project

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