FG Will Pay Down Outstanding Power Plant Debts Starting In April
THE minister of power, Adebayo Adelabu, has said that starting in April, his ministry will give priority to paying off outstanding bills owing to power plants, such as Egbin Power.
Adelabu announced this on Friday with a post on his X page.
The minister said that the ministry has conducted a comprehensive analysis of the difficulties that Nigeria's power sector is now facing during his recent visit to the Egbin Power Plant.
“These challenges range from infrastructure limitations to supply chain constraints, and we are taking urgent action to address them and enhance power supply across the country,” he said.
“To this end, the Federal Government is fully committed to implementing proactive measures. Starting in April, we will prioritize the settlement of outstanding debts owed to power plants like Egbin Power.
“By doing so, our goal is to provide incentives for the continuous operation of these crucial facilities and to enhance their overall efficiency.”
Adelabu agreed that it is critical to guarantee that enterprises who produce electricity have access to the foreign exchange that they require for upkeep and operations.
“This access is crucial for sustaining and improving power output on a national scale. We are taking decisive steps to facilitate this access, recognizing its critical role in the broader context of our energy infrastructure,” he said.
“Our ongoing discussions with the Ministry of Petroleum Resources and gas suppliers are centered on addressing gas supply constraints and facilitating debt repayment.
“Through collaborative efforts with all stakeholders, we are dedicated to finding solutions that will benefit the entire sector and contribute to its long-term sustainability.”
Adelabu added that the operation of gas power plants has been severely impeded by the gas shortage.
Adelabu stated that efforts are being made to address the problem and guarantee a steady supply of gas for power generation through tight cooperation with the ministry of petroleum resources and gas providers.
The environmentally friendly electric car project and the development of the staff quarters bearing Tinubu's name were also officially launched by the minister during his visit.
Adelabu commended the Egbin Power board and management group for their constant dedication to upkeep and improvement of infrastructure in spite of many obstacles.
No comments:
Leave comment here