Nigeria, Germany sign agreement to accelerate Siemens power project implementation

Nigeria and Germany have signed an accelerated performance agreement aimed at expediting the implementation of the Presidential Power Initiative (PPI) to improve electricity supply in Nigeria.

The signing ceremony, which was presided over by President Bola Tinubu and the German Chancellor, Mr Olaf Scholz, took place on the sidelines of the ongoing United Nations Climate Conference (COP28) in Dubai, the United Arab Emirates.

The agreement was signed by Mr. Kenny Anuwe, the Managing Director and CEO of FGN Power Company, and Ms. Nadja Haakansson, Siemens Energy’s Senior Vice President and Managing Director for Africa.

The PPI, formerly known as the Nigeria Electrification Roadmap Initiative, was the outcome of the visit of former German Chancellor Angela Merkel to Abuja in August, 2018.

An agreement was signed between the governments of Nigeria and Germany in 2019 to improve the power sector.

President Bola Tinubu, since assuming office, has consistently advocated the accelerated realization and expansion of the PPI. To achieve this, the project has been a major focal point in three rounds of bilateral discussions at several meetings between the President and the German Chancellor, in New Delhi, Abuja and Berlin.