Shiroro power plant concession not a mistake - Sambo

3 June 2014

Nigeria Business News

Vice President Namadi Sambo on Wednesday said recent developments at the Shiroro Hydro Power Plant had shown that its recent concession by the Federal Government was not a mistake.

A statement by his spokesman, Mr. Umar Sani, quoted Sambo as speaking while granting audience to a delegation of the firm's new management, North-South Power Company, led by its Chairman, Mallam Ibrahim Aliyu, at the Presidential Villa, Abuja.

He commended the team for the excellent management of the plant and the direction given it.

The statement read in part, "The vice president noted that the concession of the Shiroro Hydro Power Plant to the company was not a mistake in view of the new ideas the company was injecting to enable the power plant to generate to its optimal capacity.

"The vice president appreciated the management of the company for the steps taken to appoint consultants that would advise them on the technical aspect of the proper running of the plant.

"He also noted that their determination to venture into the provision of solar power was welcomed as the government was encouraging investors in power through various channels, including linking them up with international financing agencies such as the World Bank, the Islamic Development Bank, African Development Bank and the China EXIM Bank, where they were expected to source for cheap financing at single digit interest rates."

Sambo noted the request of the company to participate in the Hydro Electric Power Producing Areas Development Commission meetings and requested it to submit such idea to the office of the minister for further consideration.

He observed that the participation of the power firms in the meetings would serve as a form of synergy that would create harmony between the owners and beneficiaries of the power plants.

Speaking earlier, Aliyu said the delegation was at the State House to brief the vice president, being the Chairman of the National Council on Privatisation, on the company's activities since it took over the Shiroro plant in Niger State.

He said despite challenges, the company had made considerable investment to ensure that the power plant operated optimally.

Aliyu said currently, two of the four turbines had been fully overhauled, while the third would soon be functional, stressing that when all the turbines were fully functional, the plant would work seamlessly for the next 10 years.

Original article by BusinessNews Staff

Category: Energy

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