President Goodluck Jonathan has commissioned 750mw Olounshogo power station built by Niger Delta Power Holding Company of Nigeria as part of the agenda of transforming the power sector thereby providing electricity urgently needed to boost the development of Nigerian economy .
According to him , the commissioning of the plant which is the second largest power station in the country brings megawatts generated from the area to 1,088 mw. He added that the commissioning of Geregu and Omotosho in Kogi and Ondo states respectively before Olorunshogo would contribute a lot in stabilizing power supply to Nigerians .
He revealed that Niger Delta Power Holding Company NDPHC through funding from the three tiers of government provided $8.6 billion for the building of power stations across different parts of the nation, while $6.05 billion was spent to build the power stations ,adding that electricity has remained relevant factor for industrialization Nigeria .
President Jonathan is optimistic that the power station will definitely boost the development of micro, small and Medium scale industries which is paramount for the industrial take off of the nation.
He said that the interface between the public and the private n power sector will be completed in the next two years which will end up giving private sector 100 percent ownership of all the assets in the power sector.
Earlier, the Minister of Power, Prof Chinedu Nebo in his address said that the completion of the projects executed by NDPHC have added over 2,500mw to the national grid , adding that the power stations will ramp up power supply to national grid to 5,000mw.
He observed that that Transmission Company of Nigeria TCN was mandated to upgrade the existing facilities in the power sector which resulted in boosting facilities from 3,000mw to 6,000mw.
He insisted that the privatization of power sector is fast yielding the expected result as the exercise will boost the transformation agenda of President Jonathan which is geared towards the development of Nigerian economy through provision of electricity.
He listed some of the benefits of privatization of power sector. For instance Ughelli power station generates 130 mw before the exercise, but now 600mw with plans by new owners to boost power output to 800mw before the end of 2015; the restoration of Egbin power station to its installed capacity of 1,320 mw with the revamping of unit 6 with capacity of 220mw; Kainji that generates 80mw, now produces 150 mw ,with funding backing from World Bank to boost power generation to 340mw; Jebba generation of 150 mw, now produces 450mw; Shiroro power boosting power generation from 450mw to 600mw .
He named vandalism of power facilities by unpatriotic Nigerian as some of the factors affecting power supply which has resulted into reduction of power stock at the national grid form 4500mw to 3600mw. The Minister regarded the current administration as the government that invested so much in power to boost electricity supply. He listed the award of license to Zuma Energy to build 1200mw coal power station in Kogi State, building of solar power stations in Katsina, Ogun,Enugu etc,
The Managing Director of NDPHC, Engr. James Olotu in his contribution said that four gas turbines at the power station were equipped with heat recovery units that recovers lost steam to generate more electricity.
