All About the Presidential Power InitiativeNigeria is setting the course towards economic development and access to energy is the foundation for growth. In Nigeria, the imbalance between power generation, evacuation, dispatch and consumption is a major challenge for the population of around 200 million. While over 13 GW of grid power generation capacity is installed, only approximately 3.4 GW reaches consumers on average.
On August 31, 2018, in Abuja, the Presidential Power Initiative (formerly the Nigeria Electrification Roadmap) was formed between Nigeria and Germany during a visit by the German Chancellor, Angela Merkel and her business delegation which included Joe Kaeser, Siemens AG CEO. The two nations agreed to explore cooperation in several areas. One such area of cooperation aims to resolve the challenges in the power sector and to expand the capacity for future power needs. Siemens Energy will help to facilitate financing for the project through the German Export Credit Agency (Euler Hermes AG), other ECA’s, and other financing Agencies.
The Journey So FarSiemens Energy was brought on board to assess the situation in Nigeria’s power sector, and alongside other stakeholders - from Nigeria’s Ministry of Power, Bureau of Public Enterprise (“BPE”), Nigeria Electricity Regulatory Commission (“NERC”), Transmission Company of Nigeria (“TCN”) and Electricity Distribution Companies (“DisCos”) - decided the immediate priority is to close gaps in the system by enhancing the transmission and distribution segment of the power sector.
Following several engagements and reviews on the technical and commercial considerations for the project, with representatives of the TCN, NERC, BPE, Ministry of Power and all the DisCos, the implementation agreement was signed by the President/CEO of Siemens AG, Joe Kaeser; Head Strategy, Technology & Innovation, Industrial Applications Division at Siemens Energy, Onyeche Tifase; and Director General/CEO of Bureau of Public Enterprises, Alex Okoh in Abuja in the presence of President Muhammadu Buhari on July 22, 2019.
The Presidential Power Initiative (PPI) is a testament to the Federal Government’s determination to resolve Nigeria’s electricity challenges. Siemens Energy reaffirms its continued commitment to Nigeria’s development and looks forward to supporting the timely and successful implementation of the PPI project as a major enabler for improved economic growth.Seun Suleiman, Managing director, Siemens Energy, Nigeria
What Matters for Nigeria
Reliable Energy supply as a basis for enhanced economic growth.
Siemens Energy's partnership with the Federal Government of Nigeria on the execution of the Presidential Power Initiative will deliver reliable power supply to the whole country. With a presence in Nigeria for 50 years and a solid portfolio across the entire energy value chain , Siemens Energy is committed to supporting the country in enhancing its power infrastructure to positively impact Nigerians and to facilitate economic growth.
Siemens Energy is dedicated to the successful implementation of Nigeria’s Presidential Power Initiative (PPI), which will increase access to reliable, stable and affordable electricity. The project will energize the economy, industry and society. Our involvement in the PPI is testament to our long and fruitful partnership with Nigeria.Christian Bruch, President and CEO, Siemens Energy
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