The Vice President, Senator Kashim Shettima, expressed his support for the strategic partnership between the Niger Delta Power Holding Company Limited (NDPHC) and its key partners.
This partnership aims to ensure a dedicated, steady, and high-quality power supply to major industrial and commercial clusters in Nigeria.
During the launch of the collaboration between NDPHC and its partners in Agbara, Ogun State, the Vice President commended the partnership between the private sector and the state-owned power company.
He emphasised that this collaboration embodies progress, teamwork, and a commitment to fostering synergy to enhance the productivity of Nigerian businesses and institutions.
Dignitaries at the NDPHC/Agbara Industries Bilateral Energy Sales Roadshow included the Governor of Ogun State, Prince Dapo Abiodun, and Lagos State Deputy Governor, Dr. Obafemi Hamzat, along with investors and senior government officials.
The initiative aims to generate 200 megawatts of electricity for over 200 industries and businesses within the Agbara cluster in both Ogun and Lagos States.
NDPHC and its partners have a six-month deadline to deliver the project. It’s believed that the bilateral energy sales between the company and the partners will have a significant multiplier effect on Nigeria’s industrial, economic, and infrastructural development.
The project partners include Millwater Limited, EnerixOne Limited, EKEDC, IBEDC, and Electric Utilities Nigeria Limited.
According to the Vice President, this partnership not only aligns with the vision to transform the nation into a premier investment destination but also serves as an industrial benchmark in this part of the world.
He stated that the choice of Agbara, Ogun State, as the pilot site of the project owed to its function as a crucial artery of Nigeria’s industrial structure.
The initiative reflects the federal government’s resolve to breathe new life into the enterprises that sustain the Nigerian economy.
“We are here to complement historical efforts with new and innovative solutions. We are here to deliver the infrastructure and financing required to solve the key constraints that have caused the supply gap in the Nigerian Electricity Supply Industry (NESI) to persist.
I know that our partners here are on the same page as us and prepared to join us in delivering tangible wins to Nigerians. I believe this initiative marks the commencement of a promised opportunity for our nation.”
“It’s one thing to invite investors to the country; it’s another to get them to stay. So, you must agree with me that finding a solution to the supply deficit in the Nigerian Electricity Supply Industry (NESI) is an intervention that seeks to undo the generational setbacks that businesses with immense promise have endured.
For too long, some of these ventures were forced to pack up, their potential stifled by persistent energy constraints.
Today, we embark on a journey of empowerment, a journey aimed at rekindling the flames of enterprise and ensuring that the promise of prosperity prevails over the darkness of past hindrances,” the Vice President said.
By mobilizing private capital, harnessing the generation portfolio of NDPHC, and utilizing the existing power delivery infrastructure, the Vice President said the federal government aims to provide a consistent, reliable, and high-quality power supply to specific customer clusters with substantial capacity demands.
This effort, he said, has initiated an industrial revival of significant magnitude.
Speaking earlier, the Managing Director and Chief Executive Officer of NDPHC, Chiedu Ugbo, said the event signified the unwavering commitment and preparedness of NDPHC in strategic collaboration with esteemed partners to undertake bilateral electricity sales to end-users.
The primary objective of the initiative, he said, was to ensure a consistent, reliable, and cost-effective supply of electricity from NDPHC’s power plants to the extensive industrial and business clusters in Agbara and throughout Nigeria.
“As many of you are aware, NDPHC is a wholly-owned government company responsible for implementing the National Integrated Power Project (NIPP), which aims to enhance electricity generation with associated electricity transmission and distribution infrastructure, for the benefit of Nigerians,” he said.
To date, the Chief Executive Officer said that NDPHC had successfully constructed eight power plants with a combined capacity of approximately 4000 MW, as well as various transmission and distribution infrastructure.
However, Ugbo pointed out that a significant portion of the capacity remained stranded due to constraints within the transmission and distribution system, distribution losses, gas limitations, and the financial burden on the Federal Government’s balance sheet through NBET, the FGN-owned primary bulk purchaser of electricity that on-sells to electricity distribution companies in Nigeria.
With the evolving regulatory framework of the Nigerian Electricity Supply Industry (NESI) and the declaration of eligible customers, he said the company has identified opportunities to revolutionise the industry through end-to-end solutions that increase electricity access for Nigerian homes and businesses and reduce the financial burden on the federal government’s balance sheet.
He said: “This event is a public manifestation of the months of diligent work by the NDPHC team and our project partners, devising creative and viable solutions to address power supply challenges in NESI.
“NDPHC remains at the forefront of the industry in pursuing bilateral power sales and other projects that ensure efficient and targeted power delivery to end-users. We are delighted to witness the incremental results of our collaborative efforts with our partners during today’s events.
“We are grateful for the political support of the Federal Government, represented by our Board Chairman, His Excellency the Vice President, and the state governments, 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,” he said.
He affirmed NDPHC’s unwavering commitment to the successful execution of the project, not only in Agbara but also in various locations across the country.
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