Nigeria approves to contribute USD 2 million for 2020 budget of West African Power PoolDevdiscourse News Desk | Abuja | Updated: 15-10-2020 13:29 IST | Created: 15-10-2020 13:29 IST
The Minister of Power, Saleh Mamman has disclosed this to State House after the Federal Executive Council (FEC) chaired by President Muhammadu Buhari at the Presidential Villa, Abuja.
The Honourable Minister of Power @EngrSMamman participated in today's Federal Executive Council Meeting at the Council Chambers earlier today. The Minister physically presented a memo to the Council on the West African Power Pool Project.Cc: @NigeriaGov pic.twitter.com/BKvhnnYh1A— Office of the Minister of Power (@PowerMinNigeria) October 14, 2020
WAPP was created by a decision at the 22nd Summit of the Economic Community of West African States (ECOWAS) Authority of Heads of State and Government in 1999.
According to Saleh, participation in the regional market would generate immediate foreign exchange for Nigeria as oil revenue is dwindling.
He said: "The pool is about trying to have coordination and synergy among West African countries. This decision has been taken by ECOWAS. It's for the generation of electricity throughout the region so as to have a robust, constant, and steady power supply. It's just like the national grid we have here in Nigeria. Now, we want to have a regional grid. It means in case there is a failure in one country, another can supplement it. The USD 2 million is a contribution."