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Nigerians will soon enjoy regular electricity supply – Elumelu

By BusinessNews Staff on February 23, 2015

The Chief Executive Officer, Transcorp/Woodrock, the consortium that won the bid for Ugheli Power Plc, Mr. Tony Elumelu, on Thursday said with the signing of transaction and industry agreements for the Power Holding Company of Nigeria’s successor companies, the stage was set for the citizens to enjoy uninterrupted power supply.

Elumelu spoke with State House correspondents shortly after his firm, which emerged the preferred bidder for the Ugheli plant, signed a Power Purchase Agreement with the Nigerian Bulk Electricity Trading Company Plc.

The NBET signed similar agreements with five other firms in respect to Geregu Power Plc, Sapele Power Plc, Kainji Hydro Electric Plc, Shiroro Hydro Electric Plc and Egbin Power Plc.

“Today is a very significant day for Nigeria, significant because this is the issue of public-private partnership in action. The government of President Goodluck Jonathan promised Nigerians that they will have power, let there be light and with what we are doing today, there is going to be light,” Elumelu said.

He said it was his firm’s conviction that once the country could get its power sector right, economic and social development would follow.

“We believe that power is so significant for the economic development of the country; not only economy, but also social development of the country. When we get power right, it will lead to the development of Nigeria’s economy and will touch the society in so many other areas,” he added.

[Punch]

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