Sen. Kashim Shettima, the vice president, endorsed the strategic alliance between the Niger Delta Power Holding Company Limited (NDPHC) and its important partners.
With this agreement, important industrial and commercial areas in Nigeria will receive a dependable, high-quality power supply.
The Vice President praised the collaboration between the private sector and the state-owned power company at the beginning of the project between NDPHC and its partners in Agbara, Ogun State.
He emphasized that this partnership represents development, teamwork, and a dedication to building synergy to raise the productivity of Nigerian institutions and enterprises.
Along with investors and top government officials, dignitaries attended the NDPHC/Agbara Industries Bilateral Energy Sales Roadshow, including Lagos State Deputy Governor Dr. Obafemi Hamzat and Ogun State Governor Prince Dapo Abiodun.
The project’s objective is to provide 200 megawatts of power for more than 200 enterprises and industries in the Agbara cluster in both Ogun and Lagos States.
The project must be completed within six months according to NDPHC and its partners. It is anticipated that the company’s and the partners’ bilateral energy sales will significantly accelerate Nigeria’s industrial, economic, and infrastructure growth.
The project’s collaborators include Electric Utilities Nigeria Limited, Millwater Limited, EnerixOne Limited, EKEDC, and IBEDC.
The Vice President claims that this relationship not only supports the goal of making the country a top investment location but also acts as a benchmark for industry in this region of the world.
He said that Agbara, Ogun State, was selected as the project’s test location because of its role as an important artery for Nigeria’s industrial structure.
The program demonstrates the federal government’s determination to revitalize the businesses that support the Nigerian economy.
“We are here to support previous efforts with fresh, creative solutions. We are here to provide the funding and infrastructure needed to address the major issues that have prolonged the supply deficit in the Nigerian Electricity Supply Industry (NESI).
I am confident that our local partners share our goals and are ready to work with us to give Nigerians real victories. This action, in my opinion, heralds the beginning of a chance promised to our country.
“Welcoming investors to the nation is one thing; keeping them there is quite another. You must therefore concur with me that addressing the supply gap in the Nigerian Electricity Supply Industry (NESI) is an intervention meant to reverse the generational failures that companies with great potential have experienced.
Some of these endeavors were forced to shut down for far too long, their potential being strangled by ongoing energy restrictions.
We are starting a path of empowerment today, one that aims to rekindle the spirit of entrepreneurship and make sure that the promise of prosperity triumphs over the shadow of historical obstacles.
The Vice President stated that the federal government wants to supply a consistent, dependable, and high-quality power supply to particular customer clusters with high capacity demands. To do this, the government will mobilize private capital, take advantage of NDPHC’s generation portfolio, and make use of the current power delivery infrastructure.
He claimed that this endeavor had sparked a major industrial resurgence.
Chiedu Ugbo, the Managing Director and Chief Executive Officer of NDPHC, said earlier that the event represented NDPHC’s ongoing commitment and readiness to engage in bilateral electricity sales to end consumers in strategic partnership with recognized partners.
According to him, the initiative’s main goal was to guarantee a regular, dependable, and affordable supply of electricity from NDPHC’s power plants to the sizable industrial and commercial clusters in Agbara and across Nigeria.
The National Integrated Power Project (NIPP), which aims to improve electricity generation with related electricity transmission and distribution infrastructure, is being implemented by NDPHC, as many of you are aware, he said.
The Chief Executive Officer said that, as of this point, eight power plants totaling about 4000 MW had been successfully built by NDPHC, together with a variety of transmission and distribution facilities.
Ugbo drew attention to the fact that a sizable portion of the capacity was still stranded because of transmission and distribution system limitations, distribution losses, gas shortages, and the financial strain placed on the Federal Government’s balance sheet by NBET, the FGN’s primary bulk buyer of electricity that resells to Nigerian electricity distribution companies.
He claimed that the company has discovered opportunities to revolutionize the industry through end-to-end solutions that increase electricity access for Nigerian homes and businesses and lessen the financial burden on the federal government’s balance sheet. He cited the evolving regulatory framework of the Nigerian Electricity Supply Industry (NESI) and the declaration of eligible customers.
“This event is a public manifestation of the months of diligent work by the NDPHC team and our project partners, conceiving original and workable solutions to address power supply challenges in NESI,” he stated.
“NDPHC continues to lead the sector in developing projects that assure effective and targeted power supply to end consumers, including bilateral power sales. We are excited to see how our collaboration efforts with our partners are starting to pay off during today’s events.
We are appreciative of the political assistance provided by the federal government, which is represented by His Excellency the Vice President, and the state governments, which are represented by the Executive Governors of Ogun and Lagos States.
“We are fully aware that beyond the celebrations of today’s event, there remains a substantial amount of work to be done to successfully implement this programme and deliver steady, reliable, and affordable electricity to Nigerian industrial clusters,” the official stated.
He reaffirmed NDPHC’s unshakeable dedication to seeing the project through to completion, not only in Agbara but also in other parts of the nation.
