Nigeria, Russian Firm Stake N16 Trillion to Build Four Nuclear Plants

Posted on : Friday, 24th April 2015

Nigeria has signed an agreement with a Russian firm, Rosatom, to build four nuclear power plants in the country valued at $80 billion, about N16 trillion.

The power plants which will have a combined capacity of 4,800 megawatts, are expected to come on stream between 2025 and 2035.

Speaking at a forum in Kenya Tuesday, Mr. Franklin Erepamo Osaisai, Chairman/Chief Executive Officer, Nigeria Atomic Energy Commission, said the building of the nuclear plants would be financed by Rosatom, which will then build, own, operate and transfer the plants to the government and people of Nigeria after a number of years.