President Bola Ahmed Tinubu and German Chancellor, Olaf Scholz on Friday, in Dubai, United Arab Emirates (UAE), presided over the signing of the Presidential Power Initiative (PPI) agreement between Nigeria and Germany, in a bid to add 12,000 mega-watts (MWs) of electricity to Nigeria’s national grid.
It was gathered that the agreement was signed on the sidelines of the United Nations Climate Conference (COP28) at the Expo City in Dubai, UAE.
The Managing Director of the Federal Government of Nigeria Power Company, Kenny Anue, and the Managing Director (Africa) Siemens AG, Nadja Haakansson, signed the agreement.
Speaking on the agreement, Anue renewed President Tinubu’s commitment to power infrastructure development, adding that the president had reiterated time and again that infrastructure development was critical to the ongoing reforms.
Anue, who said electricity and financing were at the heart of the administration’s economic reform agenda, added that the PPI, by design, encapsulated both elements with the support of partners Siemens Energy and the financiers that the German government-backed.
Speaking on the project, the Minister of Power, Adebayo Adelabu, said the target of the PPI is to add 12,000MWs of electricity to the national grid.
