Yemisi Izuora/Ijeoma Agudosi
The Federal Government has given fresh assurance that the power sector wll be stabilised in next two years, when it envisaged complete privatisation of the sector.
President Goodluck Jonathan who gave the assurance at the commissioning of 750MW Olorunsogo II Power Station in Olorunsogo, Ogun State said the sector would be boosted to ensure quality electricity service in the country.
The generation plant was constructed by the Niger Delta Power Holding Company (NDPHC) and it is one of the 10 National Independent Power Plants constructed by the company.
The President said “Private Sector controlled-Power sector will be mid-wived and the interface between government and private sector will be sealed properly and Nigerians will take power for granted like in other countries.”
He stated that stability in power sector will stimulate Small and Medium scale Enterprises (SMEs). “We want to stabilise power sector to stimulate SMEs because our industries cannot survive on generators,” he said.
The president said that his government has invested $8.26billion so far in NIPPs from Excess Crude Account (ECA). “$8.26billion have been invested so far in NIPPs from ECA. These plants will be privatised through transparent exercise and the proceeds will be re-invested to boost transmission networks and upgrade other identified projects,” he stated.
The Minister of Power, Prof. Chinedu Nebo in his comment said that all the NIPPs that were conceived in 2004 have been moribund until President Jonathan gave them the midas touch.
He said the NIPPs have contributed over 2000MW consistently and “efforts are being made to increase it daily.
“The ability to wheel power generated rests with the Transmission Company of Nigeria (TCN) which is charged with ensuring that no power is stranded.
“Before now, TCN can hardly wheel 3000MW but now he can wheel about 6000MW.
“Mr. President has also approved investment to boost transmission capacity because the handing over of power firms to private sector was a great success,” he said.
The Managing Director, NDPHC, James Olotu, thanked President Jonathan for his commitment to the power sector by investing heavily in the sector. He however assured Nigerians that all the NIPPs that are completed are working at full capacity against some media report that they are not working fully.
