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THE Honourable Minister of Power, Adebayo Adelabu has given reasons for constant power failures across the country recently.
Adelabu, in a Press Release available to SOJ WORLDWIDE, said he had a meeting with the Power Generating Companies (GENCOs) to address the ongoing blackouts, he regretted that there is more setbacks in the new year.
He attributed the power failures to shortage of gas supply to the GENCOs. He said a committee of stakeholders will be setup to address the issues.
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“Yesterday, I had crucial discussions with power Generating companies (GENCOs) and Distribution companies (DISCOs) to address the ongoing issue of blackouts in parts of our country. Power supply during the yuletide improved, but unfortunately, we’ve experienced setbacks in the new year.
After investigations, it’s clear that the main cause of poor power supply is the low supply of gas to GENCOs. Visited facilities in Olorunshogo, Ogun State, and Omotosho, Ondo State to understand the challenges firsthand. Resolving the gas supply issue is our top priority.
During our meeting, we also addressed the indebtedness to GENCOs by Nigeria Bulk Electricity Trading Company (NBET). While acknowledging the sector’s liquidity challenge, we are working on validating the debt and determining a fair resolution.
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I emphasized the importance of GENCOs establishing contractual arrangements with gas suppliers to ensure a steady gas supply. Recognizing concessions may be needed, I assure you that we are committed to working on this to stabilize the power sector.
To tackle the gas supply and liquidity challenges, I’ve decided to form a committee involving all stakeholders. Together, we will work on recommendations to resolve these issues and ensure a more reliable and consistent power supply for our citizens.
A plan has also been established to initiate discussions with the Minister of State for Petroleum Resources regarding collaboration and to emphasize to the Ministry the importance of prioritizing Gas to Power.
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Our commitment is unwavering in addressing the challenges affecting power supply. We understand the impact on citizens, and our goal is to swiftly resolve the issues of gas supply, indebtedness, and overall sector stability. Your patience is appreciated as we work collaboratively towards a brighter, more reliable energy future for Nigeria.”
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It means that we will continue to witness darkness till March. The big question is why cant the country give her citizens power first before selling to the likes of Benin Republic and others? If making money from selling to those countries are of top priority, what has the government done with the proceeds of power sales to those countries? Why cant they use the money realized to improve power in Nigeria?