Niger Delta Power Holding boss raises alarm as power sector debt hits N100 billion

Ugbo disclosed this during his address at the 2022 seminar for power correspondents.

The NDPHC manages the National Integrated Power Projects, NIPP which consists of 10 power plants in various locations across the country and is jointly owned by the federal, state and Local Governments.

The 10 thermal plants under the supervision of the NIPP include the Ihovbor Power Station in Benin, Edo State; Calabar Power Station, Cross River State; Egbema Power Station, Imo State; Gbarain Power Station, Yenagoa, Bayelsa State.

Others are Sapele Power Station, Delta State; Omoku Power Station, Rivers State; Alaoji Power Station, Abia State, a combined cycle plant; Omotosho II Power Station, Ondo State; Olorunsogo II Power Station, Ogun State, a combined cycle plant; and Geregu II Power Station, Kogi State.

Speaking further, Ugbo said, “It should be noted that the company has been operating its existing plants, completing those still under construction and intervening in transmission and distribution through its Internally Generated Revenue. 

“In spite of this, the electricity supply industry owes NDPHC over N100bn. Again, our tariff is the cheapest among thermal companies even though we all buy gas at the same price in the market.”

In another report, the power sector has revealed it also loses about N420 billion from non-remittances.

This was revealed by the Executive Secretary of the Association of Power Generation Companies, APGC, Joy Ogaji. APGC is the umbrella body of Nigeria’s power generation companies. 

The Gencos produce the electricity which the Transmission Company of Nigeria, TCN evacuates to the power distribution companies, known as DisCos, for onward distribution to the end users.

Ohaji further stated that the monthly shortfall in revenue remittances to the power sector currently stands at N35 billion and when calculated annually, this amounts to N420 billion yearly.