Power sector owes FG’s electricity firm N100bn —NDPHC boss, Ogbo
The Managing Director, Niger Delta Power Holding Company (NDPHC), Chiedu Ogbo, has revealed that the electricity supply industry is owing the firm N100 billion.
According to Ogbo, his company has been managing the National Integrated Power Projects despite the debt owed to it by the power sector.
NDPHC is jointly owned by the Federal, State and Local Governments, and tackles issues of insufficient electric power generation since it was established in 2004.
The power holding company also addresses excessive gas flaring from oil exploration in the Niger Delta region. It has also diversified its operations, adding renewable energy.
NDPHC plans to install 100,000 solar home units across the country, with 20,000 solar units already installed.
READ ALSO:Nigeria’s power sector to receive boost with 25,000 MW from Siemens AG partnership
Speaking during the 2022 seminar for power correspondents, Ogbo stated that, “It should be noted that the company has been operating its existing plants, completing those still under construction and intervening in transmission and distribution through its Internally Generated Revenue.
“In spite of this, the electricity supply industry is owing NDPHC over N100bn. Again, our tariff is the cheapest among thermal companies even though we all buy gas at the same price in the market.”
Meanwhile, three days ago, the Minister of Power, Abubakar Aliyu, stated the Federal Government has completed a total of 105 power projects in the last seven years.
73 of the power transformers were installed by the Transmission Company of Nigeria (TCN) in substations across the nation.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: 4 yrs after completion, Kwara PHC facility inactive, rural dwellers in pains
In the middle of the night sometime in September 2019, Fatimah Ballah struggled with severe pains as she tries to...
INVESTIGATION: How Oyo State, contractors spent N1.1bn on water projects, but communities don’t have a drop
Multimillion naira water projects largely initiated by the late Abiola Ajimobi-led state government in Oyo State to benefit over 40...
INVESTIGATION: In Cross River, civil servants retire into poverty as govt looks away, squanders funds on frivolities
Thousands of civil servants in Cross River State struggle to stay alive as they are denied their gratuities and monthly...
Students suffer as contractors abandon Kano school projects after receiving over N70m
In 2019, to improve the condition of public schools in Kano State, the Federal Government disbursed millions of naira to...
SPECIAL REPORT: World Bank road projects go bad in Enugu, as state govt fails to fulfill promise
Counterpart funded road projects between the world Bank and Enugu State government have started to fail, as the state government...