About 130 power transmission projects have been abandoned across Nigeria since 2002 due to inadequate funding. This startling revelation was made by the Managing Director of the Transmission Company of Nigeria (TCN), Dr Atiku Abubakar.
This was disclosed at the electricity customers’ forum organised by the Eko Electricity Distribution Plc., in Lagos.
He however stated the commitment of his team to see to the competion of the projects so as to speedily deliver of the company’s mandate. He gave his assurance that one of the such projects, Omotosho/Egbin 330/11 KVA line, would receive urgent attention in the 2017 budget.
He bemoaned the challenges the power continues to experience due to constraints in gas supply.
“We have the capacity to generate 7, 500 megawatts of electricity but we are faced with issues of gas challenge.
“The country power generation hovers between 3,000 megawatts and 3,300 megawatts due to challenge caused by inadequate gas supply,’’ he said.
He however stated the government’s resolve to fix the problems and turn the gas sector into a highy lucrative business space for investors.
Chairman, House of Representatives Committee on Power, Mr Daniel Asuquo, in his address, highighted the cooperation of the lower chamber with the Federal Government to ensure growth in the power sector.
Asuquo commended the initiative of the Eko Electricity Distribution Company to source supplementary power through embedded generation options. This, he remarked, has made the distribution company provide relatively stable supply of electricity to its customers adding that the firm should improve on its metering of customers.
In his speech, the Managing Director of Eko Electricity Plc, Mr Oladele Amoda, said that there was no visible investment in the power sector 30 years before selling the assets of the successor companies of the defunct Power Holding Company of Nigeria (PHCN) to the private sector.
He further explained that 70 per cent of the assets were dilapidated when the assets were sold in 2013. He said, contrary to popular speculations, that the investors have been responsible for engendering growth in the sector since the privatisation in spite of the stiff liquidity challenge they face.
The MD added that the company had in the last three years metered a substantial number of its customers.
He said it had also placed an order for five hundred transformers in order to ensure steady supply of electricity to customers during the Yuletide.