The Federal Executive Council (FEC) has approved Nigeria’s contribution of $2 million to the 2020 budget of the West African Power Pool (WAPP).
Minister of Power, Saleh Mamman, made the disclosure at the end of the meeting presided over yesterday by President Muhammadu Buhari at the State House, Abuja.
The pool covers 14 of the 15 nations that make up the Economic Community of West African States (ECOWAS).
WAPP was created by a resolution of the 22nd Summit of the body’s Authority of Heads of State and Government in 1999.
At the 29th Summit held in Niamey, the Niger Republic in 2006, the sub-regional organisation adopted the Articles of Agreement for the pool.
Addressing newsmen alongside his colleagues from Information and Culture, Lai Mohammed, Digital Economy, Isa Pantami, and Transportation, Rotimi Amaechi, Mamman said participation in the sub-regional market would generate immediate foreign exchange for Nigeria as oil revenue dwindles.
His words: “The pool is about having synergy within the West African region. The decision has been taken by ECOWAS. It’s for the generation of electricity for the region, so as to have constant and steady power supply. It’s like the national grid in Nigeria. So, we are going to have a regional grid. It means in case there is a failure in one country, another can supplement. The $2 million is a contribution.”
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