Buhari consents to Siemens’ power deal after TCN boss’ sack

Over one week after the former Transmission Company of Nigeria, TCN Managing Director, Mr. Usman Mohammed was given the boot, President, Muhammadu Buhari has asked German firm, Siemens AG to begin the concessionary funding and provision of technical support to the country’s power sector.

President Buhari gave the go-ahead in a series of tweets around 6.pm on Wednesday, when he directed the Ministry of Finance, Budget and National Planning, the Ministry of Power and the Bureau of Public Enterprises “to conclude the engagement with Siemens AG to commence the pre-engineering and concessionary financing aspects of the Presidential Power Initiative.”

Although the former TCN boss’ sack letter was issued by the current Minister of Power, Mr. Mamman Sale yet, the move was said to have been approved by President Buhari.

After Mr. Mohammed’s sack, a report alleged that the reason behind his sack was connected to his role in the $2 billion (about N781bn) Siemens Presidential Power Initiative, PPI.

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Source: SweetCrudeReports

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