TCN Laments Liquidity Challenges In Electricity Market


The electricity market in Nigeria is facing some challenges ranging from unpaid debt and inadequate capacity which has made some distribution companies (Discos) to reject the energy allocated to them, even when consumers are in darkness.
The Managing Director of Transmission Company of Nigeria (TCN), Dr Abubakar Atiku at an official function tagged ‘’Change Management Sensitisation Tour” in Lagos, said the company was being owed over N17 billion by electricity market in the last three years under the federal government N213 billion facility fund to help offset the legacy debts to address the revenue shortfall in the power sector.
The managing director who was represented by Mr Sonny Iroche, Executive Director, Finance and Accounts, also said the company had over N45 billion pending at CBN on energy wheeled to some of the distribution companies as the Kaduna and Abuja Discos refused to sign its documents.
Atiku said that some distribution and generation companies had received the fund from CBN but the company had not repaid, which posed a serious challenge to its operations.
Iroche said that the change management initiative was expected to affect changes in the company’s processes, work culture and attitudes that would enable workers to achieve peak performance which will invariably impact on the achievement of the company organisational goals and objectives.
In his words, “One of the imperatives of the reform is the need for change in the business processes and procedures as well as behavioural changes to enable adoption to the fast changing business environment following the privatisation of the industry.
“The sale of generation and distribution companies which are now being managed by private sector players with new technologies and processes.
“Repositioning TCN would allow it achieve a strategic vision, compete efficiently and thrive in today’s changing landscape in the power sector,” he said.
  • Worldstage

Be the first to comment

Leave a Reply