Business News

TCN Assures States Of Support In Discharging Electricity Regulatory Responsibilities

The Transmission Company of Nigeria (TCN) has committed to assist states in implementing their regulatory duties as per the Electricity Act 2023. During a meeting with Lagos State officials, TCN’s Managing Director emphasized ongoing infrastructure projects and the importance of collaboration to enhance power supply. Lagos’s significant contribution to TCN’s revenue was also acknowledged.

Published

2 years ago

November 21, 2024

Optimum Times

TCN Managing Director, Engr. Sule Abdulaziz

The Transmission Company of Nigeria (TCN) has pledged to support states in discharge of their respective responsibilities on assumption of regulatory functions in line with the provisions of Electricity Act 2023.

TCN Managing Director, Engr. Sule Abdulaziz, gave the assurance while hosting a delegation from Lagos State government led by Biodun Ogunleye, Commissioner for Energy and Mineral Resources.

The visit is ahead of Lagos State assumption of electricity regulatory responsibilities of the power sector within its franchise under the new electricity act.

Abdulaziz highlighted TCN’s completed and ongoing projects in Lagos, including the ongoing 300MVA, 330/132kV power transformer, 2 x 60MVA 132/33kV at Lekki substation, 300mva 330/132kV power transformer at Alagbon, 100MVA 132/33kV commissioned power transformer at Alausa, Alagbon, Ijora substations as well as 2x 60 MVA, 132/33kv at Apapa road substation.

He noted that Lagos is a critical market, and efforts would continue to be geared towards improving infrastructure for enhanced power supply.

The Managing Director emphasized the company’s openness to collaboration with states and stakeholders to improve bulk power supply.

He added that the Market Operator is working to create a conducive electricity market between TCN and state governments, according to a statement by Mrs Ndidi Mbah, General Manager Public Affairs of TCN.

Earlier in his remarks, the Commissioner, Mr. Abiodun Ogunleye explained that the visit was aimed at seeking TCN’s support and collaboration as Lagos enters a new phase in the electricity market.

According to him, “the bill to create the Lagos State Electricity Commission has been passed and awaits the Governor’s assent. So, in preparation for the full implementation, we’re here to discuss areas of collaboration, learn from TCN, and understand its constraints to develop our strategic plan.”

Ogunleye added that Lagos contributes significantly to TCN’s revenue, stating, “We’re an affiliated state with 1% of Nigeria’s landmass but 30% of the population. We contribute about 50% in terms of consumption and revenue to TCN and will take over regulatory responsibility of 60% of TCN markets.