Skip to main content

Mainstream increases Kainji, Jebba power generation to 922MW, condemns high energy debt

- Mainstream Energy Solutions Limited (MESL) has said that it can now generate 922 Mega Watts at its plants in Niger state

- The energy company, however, said that there is still a huge debt of N72 billion in the country's electricity market

- The company also said it is considering the expansion of power generation to cater for the need of the international market

Mainstream Energy Solutions Limited (MESL) has said that it can now generate 922 Mega Watts (MW) at Kainji, Jebba power plants in Niger state.

The energy solutions company, however, said that there are N72 billion energy invoices that have not been paid in the Nigerian electricity market, Daily Trust reports.

READ ALSO: DSS reportedly recovers 350 PVCs in home of Gov Darius’ aide

Engineer Lamu Audu, the managing director of MESL, when he received the director general of the Bureau of Public Enterprises (BPE), Alex Okoh, said the debt has been affecting operations.

He said: “There are accumulated unpaid invoices of N72bn receivables as at March 11, 2019 in the market; it does not include capacity charge and if there is to be an interest on these debts.”

Audu also said the power company is the operator of the 1,338MW capacity plants and said that only 582MW was available when the company took over in November 2013.

He also said that that the company has been working on making its board work on expansion so that the international market can also be catered for through West African Power Pool (WAPP).

“We are trying to encourage the board to do this expansion to target the international market through the West African Power Pool (WAPP).

“It is a serious issue that needs to be addressed if not, we cannot go anywhere,” he said.

The director of MESL also asked the BPE convert the payment of concession fee by the company from US dollar to the local currency so that the difficulty in accessing forex at the official exchange rates can be solved.

Alex Okon praised MESL for their work and the investment they have made in increasing and improving power generation.

He said: “We are quite impressed at what we see. We are not where we should be in terms of the privatisation agreements but we can see a credible effort towards delivering on that path.”

PAY ATTENTION: Download our mobile app to enjoy the latest news update

Meanwhile, Legit.ng previously reported that Dr Jamilu Gwamna, the managing director, Kano Distribution Company of Nigeria (KEDCO), commended the federal government for improving in power generation in the country.

Gwamna gave the commendation in an interview with the media in Gombe on Monday, March 11.

The KEDCO boss said power generation was at its all-time best due to such effort.

NAIJ.com (naija.ng) -> Legit.ng: Same great journalism, upgraded for better service!

Nigerian Electricity Crisis Explained | Legit TV

Source: Legit.ng



from Nigeria News today & Breaking Naija news ▷ Read on Legit.ng 24/7 https://ift.tt/2TAsgOl
via EDUPEDIA24/7

Comments

Post a Comment

Popular posts from this blog

Nigerian Academy Of Science Inducts First Female President

The Nigerian Academy of Science has inducted a professor of Parasitology/Epidemiology, Ekanem Ikpi Braide, as its 19th President on Thursday. In a statement issued by Oladoyin Odubanjo, the Executive Secretary of the Academy, Braide is the Academy’s first female President in 44 years of existence. It read, “Braide was a member of the national committee that achieved the laudable feat of guinea worm eradication in Nigeria. “She has a rich professional experience as a researcher and an administrator. In July 2010, Professor Braide was honoured by the President of Nigeria with the award of Officer of the Order of the Federal Republic (OFR) for her contribution to disease control in Nigeria. “She was nominated by the Honourable Minister of Health to serve in the Ministerial Expert Advisory Committee on COVID-19 Health Sector Response (MEACoC-HSR). “Professor Braide served as Vice-Chancellor, Cross River University of Technology (CRUTECH) Calabar, Nigeria (2004 to 2009) and as P...
Post a Comment
Read more

NLNG Signs Letter Of Intent On Delayed Gas Expansion Project

The Nigerian Natural Liquefied Gas LTD has signed a letter of intent for the engineering, procurement and construction of its long held up Train Seven project. In a statement released by the company on Wednesday, it said that the $10bn project will be executed by a consortium of Italian firm Saipem, Japan’s Chiyoda and South Korea’s Daewoo. The statement reads, “The project will form part of the investment of over $10bn including the upstream scope of the LNG value chain, thereby boosting the much needed Foreign Direct Investment profile of Nigeria.” Managing Director of NLNG, Tony Atta, said in 2018 that the Final Investment Decision would be made in the fourth quarter of that year. This did not however, materialize. According to the release, the project will have a four to five-year execution time after the signing of the FID. The project is expected to add an extra 8 million tons per annum of gas to the 22 mtpa currently exported by the company. Oil News AddThis :...
Post a Comment
Read more

Former Maritime Agency Boss, Buba Galadima, Accuses AMCON Of Witch-hunt After Property Takeover

  A former Director-General of the Nigeria Maritime Agency, Buba Galadima, has accused the Asset Management Corporation of Nigeria of witch-hunt after the agency took possession of his business and assets on Tuesday in Abuja. Galadima, an ardent critic of President Muhammadu Buhari, claimed that he did not borrow money or have unpaid debt with Unity Bank, which lodged a complaint against him and occasioned AMCON’s move on Tuesday. The properties taken over include House No. 15, Addis Ababa Crescent, Wuse Zone 4, Federal Capital Territory, Abuja and House No. 4, Bangui Street, Wuse 2, also in Abuja.  Reacting to the situation, Galadima said, “This is an attempt to disgrace and break me down. This is injustice and an attempt to humiliate me. "But I am unbreakable and they can never silence me. They sacked me and over 50 people that sleep in the apartment. "We don’t know where to go. We will remain on the streets. We will remain on the streets until God provi...
Post a Comment
Read more