NDPHC Seeks Presidential Intervention Over N4 Trillion GenCos Debt

The Niger Delta Power Holding Company (NDPHC) has called for urgent presidential intervention to address the N4 trillion debt owed to electricity Generation Companies (GenCos), which has severely impacted funding for ongoing power projects across the country.

Managing Director/CEO of NDPHC, Jennifer Adighije, made this appeal during a site inspection of the National Integrated Power Project (NIPP) Egbema Power Plant by the House of Representatives Committee on Power. She stressed the need for immediate financial support to settle outstanding payments, ensure project continuity, and improve electricity access nationwide.

Adighije highlighted the Egbema Power Plant’s significance, noting that the project, consisting of three generating units with an installed capacity of 375MW, was awarded to CMEC China Machinery Engineering Company in 2023 and is expected to be completed by the end of the year. She assured that NDPHC is closely monitoring the progress to ensure timely delivery.

Chairman of the House Committee on Power, Hon. Victor Nwokolo, commended NDPHC’s proactive efforts in reviving the Egbema Power Plant. He acknowledged that past delays were caused by litigation issues but praised the new management and contractor for accelerating the project, which is now 60% complete.

Addressing broader challenges in the power sector, Nwokolo emphasized the need for increased funding. He lauded President Bola Tinubu for signing the Electricity Act, which has improved financial viability in the sector and made it more attractive to investors. He also praised the Minister of Power for his leadership in advancing critical projects.

Beyond electricity generation, Nwokolo stated that the Egbema project would create jobs, enhance security, and boost economic growth in surrounding communities. He relayed the House Speaker’s keen interest in power sector developments and assured that, with adequate funding, the Egbema Power Plant would soon be fully operational.

On budget allocations, Nwokolo expressed optimism, commending President Tinubu for increasing the sector’s budget—a reflection of his commitment to power sector development. He assured that the National Assembly would ensure effective utilization of funds without distortions.

The visit reaffirmed the commitment of both the executive and legislative arms of government to strengthening Nigeria’s power sector. The House Committee on Power pledged continued legislative support to tackle industry challenges, particularly in securing adequate funding for project completion.

NDPHC reiterated its dedication to expanding power generation capacity, improving national energy security, and driving economic growth. The inspection was aimed at assessing project progress and addressing sector-wide issues hindering power supply in the country.