ACTING
Director-General, Bureau of Public Enterprises (BPE), Mr Benjamin Ezra Dikki,
has advised electricity consumers in Nigeria to be prepared for increased
electricity tariff.
Director-General, Bureau of Public Enterprises (BPE), Mr Benjamin Ezra Dikki,
has advised electricity consumers in Nigeria to be prepared for increased
electricity tariff.
This is
just as the Managing Director of CMEC, one of the preferred bidders in the
privatisation exercise of unbundled Power Holding Company of Nigeria (PHCN)
successor companies, Mrs Heather Onoh, said it would take the company six
months to rehabilitate parts of the Sapele power plant.
just as the Managing Director of CMEC, one of the preferred bidders in the
privatisation exercise of unbundled Power Holding Company of Nigeria (PHCN)
successor companies, Mrs Heather Onoh, said it would take the company six
months to rehabilitate parts of the Sapele power plant.
Dikki,
speaking at the signing of Transaction and Industry Agreements (TIA) for the
PHCN successor companies, held at the Banquet Hall of the State House, Abuja,
on Thursday, admonished Nigerians to be willing to accept increased electricity
tariff, as the privatisation exercise in the power sector was nearing
completion.
speaking at the signing of Transaction and Industry Agreements (TIA) for the
PHCN successor companies, held at the Banquet Hall of the State House, Abuja,
on Thursday, admonished Nigerians to be willing to accept increased electricity
tariff, as the privatisation exercise in the power sector was nearing
completion.
The acting
BPE boss, however, said the increase in the electricity tariff would only be in
the short run, as tariffs were bound to fall in the long run as a result of
massive investment in the sector.
BPE boss, however, said the increase in the electricity tariff would only be in
the short run, as tariffs were bound to fall in the long run as a result of
massive investment in the sector.
He
reminded Nigerians of the crash in the price of SIM cards in the telecoms
sector, as a result of competition and investments in the industry, adding that
the same development would unfold in the power sector.
reminded Nigerians of the crash in the price of SIM cards in the telecoms
sector, as a result of competition and investments in the industry, adding that
the same development would unfold in the power sector.
The
acting BPE DG described the signing ceremony as the beginning of a voyage,
stressing that there was still the need for route charting, navigation and
steering in the right direction.
acting BPE DG described the signing ceremony as the beginning of a voyage,
stressing that there was still the need for route charting, navigation and
steering in the right direction.
Mrs
Onoh, speaking on the occasion, disclosed that some of the facilities at Sapele
power plant were badly managed, adding that it would take the company about 12
months to rehabilitate the power plant CMEC won for $201 million.
Onoh, speaking on the occasion, disclosed that some of the facilities at Sapele
power plant were badly managed, adding that it would take the company about 12
months to rehabilitate the power plant CMEC won for $201 million.
Meanwhile,
following the full privatisation of the PHCN, the Federal Government and the
successful bidders for 10 generating companies (GENCOs) and five
distribution companies (DISCOs), on Thursday, signed sale and purchase
agreements on their handover.
following the full privatisation of the PHCN, the Federal Government and the
successful bidders for 10 generating companies (GENCOs) and five
distribution companies (DISCOs), on Thursday, signed sale and purchase
agreements on their handover.
Speaking
at the occasion, Vice-President Namadi Sambo described the event as “important
landmark,” saying it marked important milestones in the ongoing reform of the
Nigeria electricity supply industry.
at the occasion, Vice-President Namadi Sambo described the event as “important
landmark,” saying it marked important milestones in the ongoing reform of the
Nigeria electricity supply industry.
The
vice-president, who was represented by the Minister of Power, Professor Chinedu
Nebo, thanked the World Bank for “its support towards making these agreements
bankable, through the provision of Partial Risk Guarantee credit support
instrument.”
vice-president, who was represented by the Minister of Power, Professor Chinedu
Nebo, thanked the World Bank for “its support towards making these agreements
bankable, through the provision of Partial Risk Guarantee credit support
instrument.”
Source: Tribune
