The Niger Delta Power Holding Company has identified the N4 trillion debt owed to Generation Companies as a major challenge in Nigeria’s power sector.
NDPHC Managing Director, Engr. Jennifer Adighije, disclosed this during a visit by the House Committee on Power, led by Chairman Hon. Victor Nwokolo, to inspect the Egbema NIPP Power Plant.
This was stated in a press release by the company’s General Manager, Communication & Public Relations, Olufunke Nwankwo, on Friday.
The statement said, “She (Adighije) highlighted the broader challenges facing the power sector, particularly a liquidity crisis of over ₦4 trillion owed to generation companies (GenCos).”
She called for presidential intervention to secure funding for ongoing projects, clear outstanding payments, and improve nationwide electricity access.
She reaffirmed NDPHC’s commitment to advancing the President’s vision of reliable, affordable electricity, positioning the company as the backbone of Nigeria’s power sector.
Nwokolo praised the NDPHC management for their proactive efforts in reviving the Egbema Power Plant, noting that while litigation had previously delayed the project, the new management and contractor have significantly accelerated progress.
The inspection revealed that approximately 60% of the work has been completed, moving the project closer to commissioning.
He recognized the industry’s cash crunch but praised the President for signing the Electricity Act, which has enhanced the power sector’s financial stability.
He highlighted that new tariff structures are enhancing the sector’s appeal to investors and financial institutions.
He also praised the President for his Renewed Hope Agenda and dedication to power sector reforms.
Adighije welcomed the delegation, highlighting the Egbema Power Plant as a key project under the National Integrated Power Project (NIPP).
She noted that the plant comprises three generating units with a total installed capacity of 375MW. Awarded to CMEC China Machinery Engineering Company in 2023, the project is set for completion by year-end.
