3 weeks ago
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The managing manager of the Niger Delta Power Holding Company (NDPHC), Engr. Jennifer Adighije, has commended President Bola Ahmed Tinubu for his administration’s committedness to revamping Nigeria’s powerfulness sector, pursuing his caller support of the defrayment of the N4 trillion bequest debts owed to procreation companies (GenCos).
Recall that successful July 2025, President Tinubu met with main executives of each powerfulness procreation companies, wherever helium emphasised the request for patience from GenCos and fiscal institutions. The President had besides disclosed that authorities agencies were engaging audit and ineligible firms to scrutinise the N4.7 trillion claims.
Speaking astatine this year’s National Association of Energy Correspondents (NAEC) Energy Conference successful Lagos, Adighije described the President’s support arsenic a landmark determination that would spell a agelong mode successful restoring the fiscal wellness of the sector.
“With the funds available, we astatine NDPHC — fixed our unsocial mandate arsenic the government’s involution entity successful the powerfulness assemblage — program to deploy a important information of these recovered funds toward converting our powerfulness plants from open-cycle to combined-cycle operations,” she said.
“This volition not lone heighten ratio but besides diversify our procreation mix, aligning with Nigeria’s Energy Transition Plan,” she added.
Adighije further noted that the powerfulness assemblage is presently undergoing a large transition, moving towards bilateral trading and the implementation of a cost-reflective tariff regime.
“What this means for america is that we are opening to spot accrued liquidity wrong the sector, which successful crook is making it much bankable and charismatic for investment,” she explained.
“For america successful the powerfulness procreation space, we recognize that currency travel drives ratio and sustainability. Improved liquidity ensures that procreation companies are amended positioned to reinvest successful the powerfulness sector,” Adighije said.
She reaffirmed NDPHC’s committedness to supporting ongoing reforms successful the assemblage and called for sustained collaboration among each stakeholders to guarantee vigor information and economical growth.
Meanwhile, the relation confers connected the company, Power institution of the twelvemonth Award.
English (US) ·