In its bid to improve power supply in the Federal Capital Territory, the Federal Government has been granted the sum of $11 million (N2.17 billion) for emergency improvement of electricity supply facilities in Abuja by the Japanese government.
This was revealed at an agreement-signing ceremony which held at the headquarters of the Ministry of Budget and National Planning, Abuja on Thursday.
While the Minister of Budget and National Planning, Senator Udo Udoma signed for Nigeria, the Ambassador of Japan to Nigeria, Sadanobu Kusaoke, signed for his country.
The project, which is to be implemented by the Japanese International Cooperation Agency and the Ministry of Power, is aimed at procuring and installing power capacitor banks at the existing two sub-stations in Abuja and neighbouring Nassarawa state.
According to the Japanese ambassador, the project’s aim is to “prevent voltage drop, reduce power loss and stabilize power supply to approximately 7,000 households in Abuja”.
He added that this would make “Abuja more attractive for investors as well as residents.”
Speaking at the event, the minister said the project would serve to strengthen Nigeria-Japan relations as well as improve the quality of life of the benefitting communities.
He said: “The sustained implementation of this project is expected to pave way for a significant access to quality socio-economic services, thereby leading to reduction in unemployment in the country and promoting community empowerment.
“The Federal Government remains committed to working closely with various stakeholders in the economy to achieve sustainable economic development.
“This ministry will ensure that we create an enabling environment required for the sustainability of this partnership.”