In order to improve electricity supply around Ibeju-Lekki area in Lagos and the Agbara Industrial area in Ogun State, the Niger Delta Power Holding Company (NDPHC) and Eko Electricity Distribution Company Plc (Eko Disco), have signed a bilateral agreement for the sale of up to 300MW of power from NDPHC’s power plants to customers in these areas within Eko Disco’s franchise areas.
The Lagos State governor, Babajide Sanwo-Olu, according to a statement, who hosted the signing of the agreement for these projects at Lagos House, Marina recently, commended the initiative by NDPHC and Eko Disco, and stated that “he will monitor the implementation of the agreement.” The governor expressed his confidence that the collaboration between NDPHC and Eko Disco will complement the current policies of the state government in economic and infrastructure development.
NDPHC and Eko Disco have committed to work together to deliver safe, reliable and steady supply of power to customers. The project will be structured to remove the commercial and technical inefficiencies in the Nigerian electricity market and will mobilise significant capital investment in transmission/distribution infrastructure and metering technology.
Managing director/CEO of NDPHC, Chiedu Ugbo stated that the challenges in the industry inspired NDPHC to “source alternative means to sell and ensure dispatch of its stranded power generation capacity and explore innovative ways to unlock investment in infrastructure for improved supply to customers.”
Managing Director, Eko Disco, Adeoye Fadeyibi said the partnership aligned with the efforts of his company to bridge the metering gap and improve the quality of electricity supply to customers. He appreciated customers for their support for the company in its quest to continue to empower the quality of lives of all stakeholders.
The agreement signed between NDPHC and Eko Disco is the latest milestone in NDPHC’s innovative and ambitious programme to tackle the industry-wide challenges in the Nigerian power sector. These challenges have resulted in the inability of the operators in the industry to fulfill their investment and industry payment obligations, and continuing low access to reliable power for industry, businesses and homes.