Transmission Company of Nigeria (TCN) said it will inject $8 billion to upgrade its operations to achieve 20,000 megawatts electricity supply in the country, its Executive Director, Mohammed Shaike has disclosed.
Receiving members of the Senate Committee on Privatization, led by its Chairman, Olugbenga Obadara who visited the company’s regional office in Oshogbo last week in continuation of their oversight visit to privatized enterprises in Osun State, the ED said that TCN would work jointly with the Infrastructure Concession Regulatory Commission (ICRC) to achieve the target.
He informed the Senators that in its determination to develop the technical manpower of the company, TCN’s Management Contractors-Manitoba International had trained some of the technical staff abroad to acquire technical and strategic skills.
Also speaking, TCN’s General Manager, Mr. M.J. Lawal said the company’s power lines accommodate a maximum voltage of 330kv and that its transmission coverage extends to Benin and Niger Republics.
He said that despite the low power generation from the generation companies, plans were on to upgrade the transmission lines to accommodate more voltage to distribute to the distribution companies.
Lawal listed the challenges faced by the company to include; poor office accommodation, lack of safety facilities and lack of training for the technical staff.
Responding, Chairman of the Senate Committee on Privatization, Senator Olugbenga Obadara decried the low level of investment in power generation resulting in unstable and unreliable power supply in the country.
At the Nigeria Machine Tools (NMT) Limited, its Managing Director, Mr. Norbert Chukumah gave a brief history of the company which includes the production of spare parts based on specifications.
He said since privatization in 2007, the company had embarked on massive rehabilitation and upgrade of its facilities to bring it to modern standards.
The Chairman of the Senate Committee on Privatization, Senator Olugbenga Obadara urged the company to take the company to the Capital Market to raise more funds for its operations.