Mr. Kola Adesina, Chairman of Egbin Power Plc, says Nigeria has started benefiting from the dividends of power sector privatisation.
This is contained in a statement in Abuja on Monday by Mr Alex Okoh, Head, Public Communications, Bureau of Public Enterprises (BPE).
According to the statement, the company’s chairman said that the organisation which was Nigeria’s largest generation plant, now generated above 1,000mw consistently into the National Grid.
The statement reported the chairman as saying that it was the first time the plant would achieve such feat.
“This is the first time since inception of the power plant that it will achieve the feat because of the continuing investment and upgrade activities on the plant by the new investors – Sahara Power Group and Korea Electric Power Corporation (KEPCO).”
The statement recalled that eight years ago, the plant hit the 1,000mw mark for barely two hours and never attained it again until now.
It also said that prior to the privatisation and handover of the plant in Nov. 2013, Egbin averaged generation of below 500mw due to the dismal state of its six units which at its lowest point had only two out of the six units operational.
The statement said that since takeover, the new owners embarked on total overhaul of units 4, 5 and 1, allowing the units to peak at 220mw each.