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    Transforming Public Sector Banking: How Dr. Okeke’s Strategic Leadership Secured a $1 Trillion Funding Pipeline and Revolutionized Financial Growth

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    Transforming Public Sector Banking: How Dr. Okeke’s Strategic Leadership Secured a $1 Trillion Funding Pipeline and Revolutionized Financial Growth

    Transforming Public Sector Banking: How Dr. Okeke’s Strategic Leadership Secured a $1 Trillion Funding Pipeline and Revolutionized Financial Growth

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FG summons Abuja, Ibadan distribution companies over poor power supply

Ademola Damilola by Ademola Damilola
March 2, 2024
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FG summons Abuja, Ibadan distribution companies over poor power supply
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Chief Adebayo Adelabu, the Minister of Power, has summoned the chief executives of Abuja Electricity Distribution Company and Ibadan Electricity Distribution Company, along with Sule Abdulazeez, the Managing Director of Transmission Company of Nigeria. This summon comes in response to the deteriorating power supply nationwide since the beginning of the year.

The worsening situation is attributed, in part, to the over $1 billion debt owed to gas producers, crucial for running thermal gas-fired power plants. Additionally, the country has faced a series of transmission tower vandalisms, disrupting the grid and causing a continuous drop in electricity transmission.

Expressing concern over these challenges, Adelabu has directed the CEOs of the Discos and TCN to attend a meeting in the upcoming week. The agenda includes discussing the persistent electricity supply issues in their regions and finding lasting solutions.

In a statement by the minister’s Special Adviser, Bolaji Tunji, Adelabu emphasized that the non-performance of some distribution companies would be investigated, with a particular focus on the Abuja Electricity Distribution Company and Ibadan Electricity Distribution Company, despite improved supply from TCN.

Despite gas shortages, the Ministry of Power has been pressuring power generating companies to enhance performance, resulting in a recent increase in generation to over 4,000 megawatts. Adelabu expressed disappointment in distribution companies that deliberately refused power supply from TCN, and highlighted incidents of power line damage in Abuja, Benin, Port Harcourt, and Ibadan regions caused by vandals.

Adelabu outlined plans for a comprehensive focus on all distribution companies to ensure expected performance. He warned that non-performance could lead to severe punishment or license revocation.

Furthermore, the minister instructed TCN to promptly commence repair works on damaged transmission towers and power lines to enhance supply in affected regions. Adelabu had previously conducted supervisory visits to various power generating plants, assuring them of the government’s commitment to settling outstanding debts and improving electricity generation nationwide.

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