FGN Power Company
The FGN Power Company is a special purpose vehicle established by the Federal Government of Nigeria to own and execute the Presidential Power Initiative (PPI).
The technical implementation of the PPI will be led by Siemens AG and Siemens Energy, with the support of the German Government along with a host of EPCs, financiers, and supporting regulators and agencies.
Mission
FGN Power Company’s mission is to:
- Secure Financing.
- Effectively Coordinate Stakeholders.
- Enter into efficient commercial and contractual arrangements to deliver the pipeline of PPI projects, that will transform Nigeria’s power sector, and improve the quality of life for all Nigerians.
FGN Power Company will strive to accomplish quick wins, medium-term and long term achievements to reach 25GW capacity by 2025
Principles for PPI Coordination
FGN Power Company will use several principles to guide the implementation of the PPI over the coming years:
- Transparency: Transparent prioritization of projects based on (i) technical feasibility and (ii) a holistic view of value chain improvement through governance and partnerships. The PPI’s success is contingent on a wide variety of stakeholders collaborating to fulfill interlocking responsibilities. FGN Power Company must serve as the nucleus, coordinating all stakeholders to ensure the successful implementation of the PPI.
- Sustainability: High-quality, long-lasting solutions for distribution and transmission networks implemented by knowledgeable experts within the project management team.
- Professionalism: High standards and industry codes for the NESI – following due diligence.
- Integrity: Diligent oversight and documentation of funds disbursement to avoid misuse, and ensure that project funds are used for the intended purpose.
- Efficiency: Making decisions to ensure FGN Power Company manages and coordinates key stakeholders for cohesion and seamless implementation of the projects.
Niger Delta Power Holding (NDPHC) Building
1490, Samuel Ademulegun Avenue,
Central Business District, Abuja, Nigeria
Central Business District, Abuja, Nigeria