The federal government has approved the sum of $53.1 million and N2.1 billion for the procurement and installation of electricity conductors and transformers that will help boost power supply in the country.
At the official exchange rate of N450 to the dollar, this amounts to N26 billion. The federal government also ratified a resolution that an electronic cargo tracking device be procured for port operations in the country.
Minister of Power, Abubakar Aliyu disclosed this to State House correspondents yesterday after the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the Presidential Villa, Abuja.
According to him, when installed, the conductors will help address the challenge of constant tripping of circuit breakers due to overloading of electricity lines.