THE Federal Government said the newly inaugurated 110MVA transformer at the Isolo Transmission Substation in Lagos is to improve electricity access to small and medium enterprises (SMEs) and residents within the vicinity.
The minister of Power, Adebayo Adelabu, at the inauguration, emphasised the project’s significance in enhancing Nigeria’s electricity infrastructure and supporting economic growth, particularly for SMEs and industries.
Adelabu in a statement on Tuesday, January 21, acknowledged the Central Bank of Nigeria’s (CBN) support and highlighted ongoing challenges such as vandalism and aging infrastructure.
He assured of collaboration with the Transmission Company of Nigeria (TCN) to improve energy security and sustainability, urging all stakeholders to work together for optimal use of the new infrastructure.
“This occasion is a testament to our unwavering commitment to strengthening Nigeria’s electricity infrastructure and enhancing power delivery to our citizens.
“I want to express my profound gratitude to the Central Bank of Nigeria (CBN) for sponsoring this project under the Service Level Agreement (SLA) framework with the Transmission Company of Nigeria (TCN).
“This partnership has been instrumental in achieving this milestone,” he stated.
Beyond enhancing electricity supply, Adelabu said the project has broader implications for the economy through direct impact on small and medium-sized enterprises (SMEs) and large industries.
He listed other benefits of the transformer to include, reduction in operational challenges caused by power shortages, fostering economic growth and creating job opportunities, and driving local and regional development, particularly in Lagos.
Adelabu further said the federal government is committed to strategic partnership with players in the electricity supply industry through long-term sustainability programmes.
He pointed out that frequent grid collapse disturbances and dip in supply level as a result of ageing infrastructure, resource limitations, and vandalism in transmission would be addressed with collaboration of all stakeholders.
