FEC approves $2m for West African Power Pool

By Bolaji Ogundele, AbujaThe Federal Executive Council (FEC) has approved Nigerias contribution of $2 million to the 2020 budget of the West African Power Pool (WAPP).Minister of Power, Saleh Mamma, disclosed this on Wednesday at the end of the weeks FEC meeting, presided over by President Muhammadu Buhari at the Presidential Villa, Abuja.The specialised pool covers 14 of the 15 countries of the regional economic community (Benin, Cte dIvoire, Burkina Faso, Ghana, Gambia, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Senegal and Sierra.The West African Power Pool (WAPP) was created by a decision at the 22nd Summit of the Economic Community of West African States (ECOWAS) Authority of Heads of State and Government in 1999.At the 29th Summit of the ECOWAS Authority of Heads of State and Government held in Niamey, in 2006, it adopted the Articles of Agreement for WAPP organisation and functions.According to Saleh, participation in the regional market will generate immediate foreign exchange for Nigeria as oil revenue is dwindling.The pool is about having synergy within the West African region. The decision has been taken by ECOWAS, its for the generation of electricity of the region, so as to have more constant and steady power supply. Its like the national grid in Nigeria, so we are going to have regional grid. It means in case there is a failure in one country, another can supplement. The $2 million is a contribution.Mohammed said: The West African power pool is made up of all west African countries because each member state contributes annually to the cost of power transmission across the pool. Because, the consequence is that if there is a problem in one country it could inadvertently affect the other country.This was created in 1999 by authorities of the West African Heads of State. Its a common pool and every country has its own section and our contribution for this year is $2 million. Its not as if we are giving $2 million to ECOWAS, we are simply paying our own contribution for the transmission from Nigeria to other wear African countries and viz-visa.Minister of Communications and Digital Economy, Dr Isa Ali Pantami, said council approved the national policy on virtual engagements in federal public institutions.
Click here to read full news..