Nigeria, Russian company in power plant talks
Talks are ongoing between the government of Nigeria and Rasatom, a Russian company, to build nuclear power plants in Nigeria.
For decades, the country has battled with inadequate power supply, which has affected its economy growth. The deal would see the company design, construct, operate and decommission the plants worth US$80bn, with the first expected to be operational in 2025.
Chief Executive of the Nigeria Atomic Energy Commission, Franklin Erepamo Osaisai, nuclear power promises a long-term power supply compared with what has been experienced in the past years. About 80% of the country’s power plants are gas-fired.
The company has intergovernmental agreement with the government of Nigeria but no final decisions have been made. One nuclear plant can cost between US$5bn to US$8bn.
Presently, Nigeria hosts ±170million people, with a power installation capacity of about 7000MW, (7 times greater than that of South Africa). The country is aiming to generate 40,000MW by 2020.
The country has been boosting power supply by constructing more power plants, including a recent agreement for a 500MW coal-fired power plant in Enugu.