Vice President Kassim Shettima has emphasized the critical role of South East’s optimal performance in industrialization, underscored by a reliable power supply.
Drawing parallels with the industrious nature of the Jews, the Vice President dismissed a proposal to cut off electricity to the South East due to a debt profile, expressing confidence in the region’s potential for economic growth. Shettima acknowledged President Bola Tinubu’s commitment to the nation and praised the South East and its Governors as exemplary.
The Vice President made these remarks during the launch of the South East Business Roundtable’s “Light Up Nigeria Program,” conducted by the Niger Delta Power Holding Company Limited (NDPHC) in Enugu. Governor Peter Mbah of Enugu State hailed the initiative as a harbinger of a new era for power and industrialization in the region, aligning with his administration’s innovative governance approach.
Shettima declared, “We have to make the South East work; we’re targeting the South East for a two million job initiative for women and youths.” The Vice President outlined upcoming activities, including commissioning a power station in Abia State, road projects, and the inauguration of a Smart school in Enugu, emphasizing the importance of education for future generations.
During the launch, Engr. Chinedu Ugbo, Managing Director/CEO of NDPHC, highlighted challenges faced by the NDPHC, including insufficient transmission and distribution infrastructure and financial difficulties in the electric power sector. Ugbo emphasized the severe liquidity crisis, with over N1.3 trillion owed to generation companies, and NDPHC alone being owed close to N200 billion.
To address these challenges, NDPHC initiated the “Light Up Nigeria Project,” aiming to provide reliable and affordable electricity supply to industries and homes. The project focuses on utilizing underutilized generation capacity, establishing trading agreements, and mobilizing investments to address technical, commercial, and collection losses in the supply chain.
Ugbo highlighted the project’s alignment with the Electricity Act of 2023 and NERC’s MYTO 2024, emphasizing its potential to increase access to electricity, attract investment opportunities, and foster economic growth in the region. The project aims to reduce the financial burden on the Federal Government’s balance sheet from debt exposure in the power sector.
