The Federal Government, Niger Delta Power Holding Company, Lagos, Ogun and Oyo states have agreed on a bilateral trade to distribute 4,000 megawatts electricity to the extensive industrial and business clusters in Agbara and throughout Nigeria.
This was revealed at the ‘Light Up Nigeria Programme: Agbara Business Rountable’ in Lagos on Thursday.
While speaking at the event; the Managing Director and Chief Executive Officer, NDPHC, Chiedu Ugbo, explained that the primary objective of the initiative was to ensure a consistent, reliable, and cost-effective supply of electricity generated from its power plants.
NDPHC is a wholly-owned government company responsible for implementing the National Integrated Power Project, which aims to enhance electricity generation with associated electricity transmission and distribution infrastructure.
Ugbo said,”To date, NDPHC has successfully constructed eight power plants with a combined capacity of approximately 4000 MW, as well as various transmission and distribution infrastructure.
“However, a significant portion of this capacity remains stranded due to constraints within the transmission and distribution system, distribution losses, gas limitations, and the financial burden on the Federal Government’s balance sheet through NBET, the FGN-owned primary bulk purchaser of electricity that on-sells to electricity distribution companies in Nigeria.”
With the evolving regulatory framework of the Nigerian Electricity Supply Industry, and the declaration of Eligible Customers, NDPHC said it had identified opportunities to revolutionise the industry through end-to-end solutions that increased electricity access for Nigerian homes and businesses and reduce the financial burden on FG’s balance sheet.
On his part, Vice President Kashim Shettima, who is also the chairman, Board of Directors, NDPHC, gave the company a six-month order to distribute the stranded electricity to interested customers across the country.
According to him, the launch of the strategic collaboration between Niger Delta Power Holding Company Limited, and its key partners was for the design, development, and operation of projects to supply dedicated, steady, and quality power to major industrial and commercial clusters in Nigeria. This echoed President Bola Tinubu’s pledge to reinvigorate the nation’s infrastructure framework.
