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.

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