The Niger Delta Power Holding Company (NDPHC) has called for
urgent presidential intervention to address the mounting N4 trillion debt owed
to electricity Generation Companies (GenCos), which is crippling the power
sector and hindering ongoing projects.
Managing Director/CEO of NDPHC, Jennifer Adighije, made this
appeal on Thursday during a site inspection of the National Integrated Power
Project (NIPP) Egbema Power Plant by the House of Representatives Committee on
Power. She stressed that resolving the liquidity crisis was crucial to ensuring
stable electricity supply and completing vital projects.
Adighije reaffirmed that the 375-megawatt (MW) Egbema Power
Station is on track for completion by the end of the year. The project, awarded
to CMEC China Machinery Engineering Company in 2023, consists of three
generating units and is a key component of the NIPP. She assured that NDPHC is
closely monitoring its progress to meet the scheduled timeline.
Highlighting the broader impact, she emphasized that adequate
funding would enable NDPHC to settle outstanding payments to GenCos, enhance
electricity access, and align with the President’s vision of reliable and
affordable power supply.
Chairman of the House Committee on Power, Hon. Victor
Nwokolo, commended NDPHC’s proactive approach to reviving the Egbema Power
Plant. He acknowledged that litigation issues had delayed the project but noted
that the new management and contractors had significantly accelerated progress.
He reported that approximately 60% of the work has been completed, bringing the
project closer to commissioning.
Nwokolo also addressed the wider challenges in the power
sector, including financial constraints, but praised President Bola Tinubu for
signing the Electricity Act, which has enhanced the financial viability of the
industry. He noted that new tariff structures were making the sector more
attractive to investors and financial institutions.
Additionally, he applauded the Minister of Power for his
leadership and efforts in advancing critical projects and commended the
contractors for their commitment to steady progress. Beyond electricity
generation, he highlighted that the Egbema Power Plant would create jobs,
enhance security, and boost economic growth in surrounding communities.
The chairman also relayed the concerns of the Speaker of the
House regarding power sector developments. He assured that with adequate
funding, the Egbema Power Plant would soon reach full operational capacity and
align with other functional power plants nationwide.
Regarding budgetary provisions, Nwokolo expressed optimism
and commended President Tinubu for increasing the power sector’s budget. He
assured that the National Assembly would ensure proper utilization of funds,
reinforcing the strong collaboration between NDPHC and legislative committees
on power.
The inspection reaffirmed the commitment of both the
Executive and Legislative arms of government to strengthening Nigeria’s power
sector. The House Committee on Power expressed confidence in NDPHC’s leadership
and pledged continued legislative support to secure adequate funding for
project completion.
NDPHC remains committed to expanding power generation
capacity, enhancing national energy security, and driving economic development
through reliable electricity supply.
