Electricity: Buhari approves funding for first phase of Siemens power deal

- President Buhari has kicked off the funding of the first phase of the power deal he signed with Siemens, a German power company

- The deal is aimed at rehabilitating and expanding Nigeria’s electricity grid

- The president said he has directed the power and finance ministers to kickstart the next phase of the project

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Nigeria's electricity sector may soon get a boost as President Muhammadu Buhari has approved funding for the first phase of a deal with Siemens AG to upgrade the country's power infrastructure.

The federal government signed an agreement with the German firm in July 2019 to rehabilitate and expand Nigeria’s electricity grid.

President Buhari on Wednesday, May 27, directed his power and finance ministers to “commence the pre-engineering and concessionary financing aspects” of the project with Siemens.

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