A breakdown of the payment details showed that all the Generating companies were paid within the period, while about eight out of the 10 power plants built under the National Integrated Power Projects (NIPPs) and managed by the Niger Delta Power Holding Company Ltd (NDPHC) were equally paid the value on their invoices.
Ugbo said, “We are still negotiating with the buyers. The privatization challenges such as liquidity problems, inadequate gas supply, as well as microeconomic issues, had a significant impact on the privatization process since the emergence of the bidders on March 7, 2014. But we are negotiating with them.”
They stated that the plant would commence commercial operations in 2021, in addition to unlocking investments in power transmission infrastructure.
“This privatisation process started in 2012 and moved to 2013 with the emergence of the preferred bidders. At that time it was a mix of market issues and internal issues that had to do with gas supply, completion of the power plants and evacuation.
Operational statistics of the Transmission Company of Nigeria (TCN) yesterday showed that the peak generation of electricity as at Sunday was 3,903mw but that sharply dropped to 2,982mw on Monday. The lowest generation for Sunday was 3,108mw as reported by the media.
According to the newly released 2017-2020 Economic Recovery and Growth Plan, ERGP, the government said it would also invest in transmission infrastructure, adding that the TCN would be restructured to improve management and operational efficiency.
16 January 2017, Lagos – The shutdown of seven power plants across the country has led to a total electricity…
