22 October 2013, Abuja – In line with President Goodluck Jonathan administration’s power sector reform; the Federal Government has promised that 10 National Independent Power Projects, NIPPs, will be ready in the second quarter of 2014.
When completed, the projects will add 2700 mega watts of electricity to the national grid, thereby improving power supply across the country. Part of the agenda is also to fully privatise 10 of the NIPPs, after they were commissioned.
Jonathan, who gave the assurance in Ondo State at the commissioning of the NDPHC NIPP 528MW Omotosho Phase 2 Power Plant, said government and the private sector play a vital role in the successful reform in Nigeria’s power sector. The President expressed delight with the private sector sustained enthusiasm, adding that “we have the confidence that they will perform.”
According to him, “Our target is to greatly enhance generation capacity to 2700MW through our 10 NIPP projects across the country. By God grace before the end of the first quarter of next year, we would have commissioned the 10 projects.
”This commissioning is part of our effort to provide adequate, reliable and sustainable electricity supply to our country men and women. It is gratifying to know that numeric stake holders that shares this important occasion, I commend you all for your support and commitment to our power sector reform
”Two weeks ago, I inaugurated the 434MW Geregu Phase 2 NIPP power plant and transmission switch light for Power evacuation in Geregu, today, we are adding the Omotosho Phase 2 power plant with a design capacity of 528MW. The power plant will greatly enhance the ability to boost power supply to further drive government effort towards increase productive capacity across our national economy.
“Just last month, I handed over the unbundled Power Holding Company of Nigeria, PHCN assets to private investors. The private sector would do what they have done in the banking and telecom sector.
”The decision to privatise the sector was made in the long term interest of our great nation which provides us the best opportunity to simply address the national electricity power and meet the needs of our expanding economy.
”To support the ongoing process, the Nigeria Bulk Electricity Trading Company has been provided with capitalisation of over $750 million. We equally want to effectively execute this mandate without the apprehension of Financial constrains.
”Arrangements are also in place to adequately fund the Nigeria Electricity Liability Company, what we call NEMCO to effectively assume liability management associated with the privatisation of PHCN assets to successors companies as well as other liabilities and other issues.
”I will like to reassure all PHCN workers that are yet to receive their full severance payment that government is working hard to make your payment. So there is no need for industrial action.”