The Commissioner for Energy in the southern Nigerian state of Delta,
Mr Charles Emetulu, on Thursday said the state government invested N4.5
billion in some newly privatised electricity generating and
distribution companies in the country.
He also said that the
N15.7 billion earlier contributed by the state government toward the
development of the power supply infrastructure in the country had become
equity contribution for Delta.
Emetulu spoke at the Mid-term
Ministerial press briefing in Asaba, the capital and listed Benin Power
Distribution Company, Sapale Power Generating Company and Ughelli
Generating Company, as the companies where the state bought some
equities.
The commissioner said the state spent N48.4 billion on
391 power supply projects from 2007 to date, adding that N29.7 billion
was spent on 95 power projects between 2011 and 2013.
According to
him, government is not a good manager of investments, but the state
government ventured into acquiring equities in power companies to
protect the interest of the rural communities.
“With the private
sector taking over the generation and distribution of electricity in the
country, we should all look forward for an upward review of tariffs.
“This
is why the state government has invested the sum of N4.5 billion as
equity in the power generating and distribution companies in Benin,
Sapale and Ughelli.
“Government will plough back its profits on
investment to ensure safety nets for those in the rural communities who
may not be able to pay for this product.”
Emetulu said that from
May 2011 to date, the state government acquired and distributed over
2000 transformers and other accessories to various communities to
improve power supply in the state.
He also said the state
government planned to discuss with the new owners of the power
infrastructure how the state would benefit from the facilities located
in the state.
The commissioner assured that the state Independent
Power Project (IPP) at Oghareki, Eithiope West Local Government Area,
would be completed before 2015.
He added that the state would partner with the private sector to run the plant.
Emetulu
said the state was also partnering with the Energy Commission of
Nigeria (ECN) and the Phillips Company to build renewable energy sources
in Delta.
The commissioner said the plan was to ensure power supply to the rural areas of the state, especially the riverine communities.
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