- African countries will be receiving electricity from Nigeria's power project, Northcore Power Transmission Line, which is worth $570 million
- Niger, Togo, Benin and Burkina Faso are the beneficiaries of the power project which they will also be financially contributing to
- International creditors such as World Bank, French Development Council and the African Development Bank will support the project financially
Nigeria will be giving its unutilised electricity to Niger, Togo, Benin and Burkina Faso as the countries collaborate to purchase power. They will receive the light through a new project worth $570 million.
The project is Northcore Power Transmission Line, which is funded by the countries, World Bank, French Development Council and the African Development Bank.
It was gathered that the power Nigeria will provide to the West African countries will be generated by selected electricity companies, the Chairman of the Executive Board of the West African Power Pool, Sule Abdulaziz, said.
“The power we will be selling is the power that is not needed in Nigeria. The electricity generators that are going to supply power to this transmission line are going to generate that power specifically for this project. So, it is unutilised power.”
Nigerian communities to benefit from the power project
Abdulaziz, who made the power agreement known during the West African Power Pool meeting on Wednesday, said Nigeria won't just be transferring unwanted electricity, the community where the transmission line will go through will also benefit from the electricity.
“In addition, there are some communities that are under the line route, about 611 of them, which will be getting power so that there won’t be just a transmission line passing without impact.”
The Transmission Company of Nigeria boss added that:
“Nigeria has the greatest advantage among these countries because the electricity is going to be exported from Nigerian Gencos (generation companies).
“So, from that, the revenue is going to be enhanced and a lot of people will be employed in Nigeria.”
Meanwhile, Legit.ng had previously reported that Attorney General of the Federation in Nigeria, Malami, mistakenly showed that he was trading cryptocurrency.
The digital currency app logo is that of Latoken, a cryptocurrency exchange platform that allows its users to buy or sell virtual coins with credit and debit card, as well as bank accounts.