The Central Bank of Nigeria (CBN) has officially launched its 110MVA power transformer project in Isolo, Lagos, contributing an additional 88MW to the national grid.
This significant development was announced by the Minister of Power, Adebayo Adelabu, during the commissioning ceremony.
Adelabu commended the CBN, the Transmission Company of Nigeria (TCN), and other stakeholders for their pivotal roles in bringing the project to fruition.
He emphasized the project’s potential to positively influence Nigeria’s economy, particularly in Lagos, which serves as a vital economic center.
“This initiative not only aims to enhance electricity supply but also seeks to alleviate operational challenges faced by businesses, promote economic growth, and create job opportunities,” Adelabu stated.
Despite these advancements, the power sector in Nigeria continues to grapple with various challenges, including frequent collapses of the national grid.
These persistent issues underline the importance of continued efforts to improve the sector, as highlighted by Chief Adebayo Adelabu’s commitment to reform.
The successful commissioning of the CBN’s power project marks a crucial step toward bolstering Nigeria’s electricity infrastructure and addressing the ongoing energy crisis that has hindered economic development.
The added capacity is expected to aid businesses and residents alike, fostering a more stable and reliable power supply across the region.