The Federal Government, Niger Delta Power Holding Company, Lagos, Ogun, and Oyo states have reached an agreement on bilateral trade to deliver 4,000 megawatts of energy to the significant industrial and commercial clusters in Agbara and across Nigeria.
According to The Punch, this information was made public on Thursday during the “Light Up Nigeria Program: Agbara Business Rountable” in Lagos.
Speaking at the event, the Managing Director and Chief Executive Officer of NDPHC, Chiedu Ugbo, emphasized that the initiative’s main goal was to provide a regular, dependable, and affordable supply of electricity produced by its power plants.
The National Integrated Power Project, which aims to improve power generation together with related electrical transmission and distribution infrastructure, is being implemented by NDPHC, a wholly-owned government enterprise.
According to Ugbo, the NDPHC has built eight power plants with a total capacity of about 4000 MW as well as a variety of transmission and distribution equipment.
“However, a sizable 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 balance sheet of the Federal Government through NBET, the FGN-owned primary bulk purchaser of electricity that on-sells to electricity distribution companies in Nigeria.”
The NDPHC claimed it had found opportunities to revolutionize the industry through end-to-end solutions that increased electricity access for Nigerian homes and businesses and lessened the financial burden on the FG’s balance sheet. It cited the evolving regulatory framework of the Nigerian Electricity Supply Industry and the declaration of Eligible Customers.
The NDPHC’s vice president and board chairman, Kashim Shettima, issued the firm a six-month directive to transfer the stranded electricity to interested clients around the country.
According to him, the strategic partnership between Niger Delta Power Holding Company Limited and its main partners was started with the intention of designing, developing, and operating projects to provide quality, dedicated power to Nigeria’s major industrial and commercial clusters. This reaffirmed President Bola Tinubu’s commitment to revitalize the country’s infrastructure system.
