26 February 2015, Abuja – Core investors have injected more than N300bn into the Power Holding Company of Nigeria’s successor electricity generation and distribution firms, the Bureau of Public Enterprises has said.
The Director-General, BPE, Mr. Benjamin Dikki, said this in a statement made available to our correspondent in Abuja on Wednesday by the Acting Head of Public Communication at the privatisation agency, Mr. Alex Okoh.
Dikki pointed out that the investment was for the upgrade of power infrastructure, which had become obsolete over the decades, noting that new technologies were now evolving.
Citing the Egbin Power Plant where the new owners had invested over N50bn to rehabilitate the Line 6 of the plant to generate extra 240 megawatts of electricity, Dikki said the cumulative effect of the investment was that power supply in Lagos and its environs would be greatly enhanced for the benefit of consumers.
The BPE boss noted that because of infrastructure development by the investors, power interruptions in the country had reduced