By Obaloluwa Joshua, LAGOS
The Niger Delta Power Holding Company Limited (NDPHC) is hopeful the ‘Light-up Nigeria’ campaign will help boost the body’s debt recovery programme.
Managing Director and Chief Executive Officer, NDPHC, Chiedu Ugbo revealed at a media briefing in Lagos on Monday that the agency is owed to tune of N190 billion.
The debt, according to him is owed by Central Bank of Nigeria, the Nigerian Bulk Electricity Trading Plc, and the Nigerian Electricity Liability Management Company.
Ugbo explained that the debt had made it difficult to meet some of its obligations such as operational expenditures including stock of spares, payment to gas suppliers, and others.
NDPHC Executive Director, Generation, Engr. Abdullahi Kassim explained that the Company hoped to resolve the challenges through the ‘Light-up Nigeria Initiative’.
“To underscore the importance of this programme, it is directly led by NDPHC’s Chairman, and Vice President, Sen. Kashim Shettima,” Kassim stated.
“The approach is to focus more on sales to bulk purchasers and developers that aggregate load because of the volume of power that can be sold on each such project (subject to the proper payment security being in place).
“The initiative offers a sure path to being able to sell a significant part of NDPHC’s commercially stranded capacity to light up businesses and homes.” READ ALSO:
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The ‘Light-up Nigeria’ initiative is designed by the NDPHC to leverage its generation assets to deliver reliable supply to eligible (maximum demand) customers, electricity distribution companies, and third-party project developers that aggregate load and provide a reliable supply to bulk customers.
The Light Up Nigeria Initiative is targeted at providing more than 97 per cent generated power to the masses.