. Why Process For 10 NIPPS’ Sale Is Stalled
The debts profile of Nigeria’s power system to the Niger Delta Power Holding Company (NDPHC) is now between N150 billion and N180 billion.
Platforms Africa reports that the Managing Director of the company, Mr. Chiedu Ugbo, who said this during a roundtable with journalists in Lagos, maintained that those who are owing the company include Nigeria Bulk Electricity Trading Company (NBET), while some debts are in the name of Central Bank of Nigeria (CBN), maintaining that the debts did not affect the company’s drive for Light up Nigeria project.
Speaking at the event attended by the Executive Director (ED), Generation, Engineer Abdullahi Kassim, ED Networks, Engineer Ifeoluwa Oyedele, and ED, Legal Services, Dr. Steven Andzenge, Ugbo added that the company is also indebted to other entities in the value chain including the gas producers.
Stating that the Light UP project of the company is waxing stronger, the NDPHC boss said; “We have started with Ibadan Electricity Distribution Company (IBEDC) to supply Ota Industrial Clusters,” while many other projects are also on with other DisCos.
Fielding questions from Platforms Africa at the event, Chiedu stated that the sake of 10 Inregrated Power Plants (NIPPs) was embargoed because the owners of the business are yet to take a decision to sell.
“The owners of the business have not come up with a decision to sell. We at the NDPHC are just care-takers. We will act based on any decision taken by the owners of the business, which are the Federal Government, and the states governments,” he said.