Niger Delta Power Holding Company (NDPHC) Limit has begged for presidential intervention in resolving liquidity crisis confronting the power sector with the settling of over N4 trillion owed to Generating Companies (GenCos) and facilitating funding for ongoing projects to enhance electricity access nationwide.
The Managing Director/CEO of Niger Delta Power Holding Company (NDPHC) Ltd., Engr. Jennifer Adighije, made the appeal Thursday while hosting the House Committee on Power, led by its Chairman, Hon. Victor Nwokolo, on a site inspection of the Egbema National Integrated Power Project (NIPP) Power Plant.
The inspection was aimed at assessing the progress of the ongoing project and discussing challenges facing the project as well as the power sector at large.
She highlighted the broader challenges facing the power sector, particularly a liquidity crisis of over ₦4 trillion owed to generation companies (GenCos) and called for presidential intervention to facilitate funding for ongoing projects, settle outstanding payments, and enhance electricity access nationwide.
Engr. Jennifer Adighije welcomed the delegation, emphasizing the significance of the Egbema Power Plant as a key project under the National Integrated Power Project (NIPP), according to a statement by the NDPHC General Manager, Communication & Public Relations, Olufunke Nwankwo.
Engr. Adighije provided an overview of the plant’s status pointing out that the project consists of three generating units with an installed capacity of 375MW and that it was awarded to CMEC China Machinery Engineering Company in 2023, with completion targeted for end of the year.
She also mentioned that NDPHC is closely monitoring progress to ensure timely completion and reiterated NDPHC’s commitment to advancing Mr. President’s vision of reliable, affordable electricity, positioning the company as the backbone of Nigeria’s power sector.
The Chairman of the House Committee on Power commended the NDPHC Management for their proactive approach in reviving the Egbema Power Plant and he proceeded to state that the project had faced delays due to litigation issues, but the new Management and contractor have significantly accelerated progress.
He noted that from the inspection, approximately 60% of the work has been completed, bringing the project closer to commissioning and expressed confidence that with proper funding, the contractors will deliver on schedule.
Addressing broader sectoral concerns, he acknowledged the cash crunch in the industry but praised the President for signing the Electricity Act, which has improved the financial viability of the power sector.
He noted that new tariff structures are making the sector more attractive to investors and financial institutions.
The Chairman further commended Mr. President for his Renewed Hope Agenda and commitment to power sector reforms.
He also commended the Honorable Minister of Power for his leadership and efforts in advancing critical projects.
The contractors were also commended for their dedication to ensuring steady progress.
He emphasized that beyond electricity generation, the project would create jobs, enhance security, and contribute to economic growth in surrounding communities.
The interest of the Speaker of the House in Power Sector Developments was also highlighted.
The Chairman relayed the concern of Mr. Speaker, House of Representatives, regarding developments in the power sector.
He assured that Egbema Power Plant, with adequate funding, will soon reach full operational capacity and align with other functional power plants.
When posed with the question regarding budget and sector funding through the supplementary budget, the Chairman expressed optimism and he commended Mr. President for increasing the sector’s budget, a reflection of his commitment to power sector development.
He assured that the National Assembly would not distort allocations, ensuring funds are effectively utilized.
He emphasized the strong relationship between NDPHC and the legislative committees on power, which has contributed to smoother legislative oversight and minimal public hearing issues.
The inspection reaffirmed the commitment of both the Executive and Legislative arms of government to enhancing Nigeria’s power sector.
The House Committee on Power expressed confidence in NDPHC’s leadership and assured continued legislative support to address sector challenges, particularly in securing adequate funding for project completion.
NDPHC remains committed to delivering on its mandate to expand power generation capacity and contribute to national energy security and economic development.
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