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Investors get June deadline on power improvement

By on January 8, 2014

The Federal Government on Tuesday gave marching orders to power investors and key operators in the sector to, as a matter of urgency, ensure that there was visible supply of electricity across the country by June this year.

The directive, which came from President Goodluck Jonathan, was handed down by the Minister of Power, Prof. Chinedu Nebo, at the inauguration of the Board Chairman of the Transmission Company of Nigeria, Mr. Ibrahim Waziri, in Abuja.

This was coming as the chairmen of both the Senate and House of Representatives Committees on Power, while speaking at the event, called for the unbundling of TCN.

Nebo said, “I wish to charge all the principal sector players here today to commit to ensuring that power supply to our customers is significantly and visibly improved by June this year as directed by Mr. President.

“Much is expected of us all and the entire nation is waiting for us. Government will no longer tolerate any excuse of non-performance from any of the sector players from both the ministry particularly and our new private sector partners.”

With respect to the new owners of the legacy assets, Nebo said the ministry and other agencies of government would invoke all relevant clauses in the agreement divesting ownership of electricity generation and distribution companies to new investors.

“Nigerians must, I repeat, must enjoy the dividends of the reform programme and none will be allowed to frustrate this vision of Mr. President,” he added.

Speaking on the appointment of Waziri, the minister said the move came at a time when the TCN had been a subject of much public discourse.

 

 

[Punch]