By Chris Ochayi, Abuja
The Niger Delta Power Holding Company, NDPHC, has signed an agreement with Eko Electricity Distribution Company Plc, EKEDC, to deliver 300 megawatts of power to Ibeju-Lekki and other franchise areas in Lagos State.
The agreement which was sealed in Lagos State with the State Governor, Mr. Babajide Sanwo-Olu in attendance will see NDPHC supplying electricity directly to Eko DISCO from existing capacity.
The Managing Director of NDPHC, Mr. Chiedu Ugbo in his remarks noted that the agreement was part of NDPHC’s strategic plan to source alternative means to sell and ensure dispatch of its stranded power.
Ugbo noted that the deal also allows the EKEDC to explore innovative ways to unlock investment in infrastructure for improved supply to its customers.
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He pointed out that “the recognition of these complementary objectives has birthed the relationship between NDPHC and EKEDC that we are formally kicking off today.
“Our mutual objective is to work together to deliver the arrangements that will ensure a safe, reliable, and steady supply of power to customers in Ibeju-Lekki and other parts of EKEDC’s franchise area.
“This collaboration is significant considering the strategic importance of Lagos State as Nigeria’s commercial capital and host state for key industries in Nigeria.
“It is also for this reason that we are pleased to be signing this document in the presence of Mr. Governor, who is himself a key member of NDPHC’s Board of Directors, and whose State, Lagos, is one of our shareholders.
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“We look forward to carrying out this collaboration with the support of the Lagos State Government, and we believe that the collaboration will support the attainment of the infrastructure development and economic policies of the state government”.
Mr. Ugbo observed further that “This project is indeed a milestone for both parties and will deliver significant benefits to all the persons concerned. For NDPHC, the project will enable NDPHC, through its subsidiary generation companies, to deliver power to customers within EKEDC’s franchise areas.
“For EKEDC, the project will help to satisfy its customers with reliable power and achieve an enhancement of its network and infrastructure. For EKEDC’s customers, their homes and industries can now enjoy a reliable 24/7 power supply. For EKEDC’s investors and NDPHC’s shareholders – trustees of the Nigerian people – this project will deliver significant value”.
He thanked Gov. Sanwo-Olu, other officials of the Lagos State Government, the EKEDC team, the staff of NDPHC and its subsidiary generating companies, and Transaction Adviser, Electric Utilities, for the efforts made to see to the success of the project.
Vanguard News Nigeria
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