Jennifer Adighije, Managing Director of Niger Delta Power Holding Company (NDPHC) Limited, has called for Presidential intervention to facilitate funding for ongoing electricity projects, settle outstanding payments, and enhance electricity access nationwide.
This is as she decried the liquidity crisis of over ₦4 trillion owed to generation companies (GenCos), as a major challenge facing the power sector.
Adighije stated this while hosting the Federal House of Representatives Committee on Power, led by its Chairman, Victor Nwokolo, on a site inspection of the Egbema NIPP Power Plant.
Read also: Liquidity crisis impeding Nigeria’s power sector growth – Adighije, MD NDPHC
According to her, the Egbema Power Plant as a key project under the National Integrated Power Project (NIPP) consists of three generating units with an installed capacity of 375MW and was awarded to CMEC China Machinery Engineering Company in 2023, with completion targeted for end of the year.
She also stressed that NDPHC is closely monitoring progress to ensure timely completion.
According to a statement issued to journalists on Friday, she highlighted the broader challenges facing the power sector, particularly a liquidity crisis of over ₦4 trillion owed to generation companies (GenCos), reiterating NDPHC’s commitment to advancing the President’s vision of reliable, affordable electricity, positioning the company as the backbone of Nigeria’s power sector.
Victor Nwokolo, Chairman of the House Committee on Power, commended the NDPHC Management for their proactive approach in reviving the Egbema Power Plant, noting that the project had faced delays due to litigation issues.
Read also: NDPHC to leverage technology, others for company’s growth – Adighije
He expressed confidence that with proper funding, the contractors will deliver on schedule, noting that from the inspection, approximately 60% of the work has been completed, bringing the project closer to inauguration.
Addressing broader sectoral concerns, he acknowledged the cash crunch in the industry, but commended President Tinubu for signing the Electricity Act, which he said, had 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.
