• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Wednesday, June 25, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Nigeria’s power system debts to NDPHC hits N180bn

Power

The Matters Press by The Matters Press
November 14, 2023
Reading Time: 1 min read
0
Strike puts Nigeria in darkness

Electricity distribution station

Lagos, Nov. 14, 2023: Mr Chiedu Ugbo, Managing Director, Niger Delta Power Holding Company (NDPHC), says the debts profile of Nigeria’s power system stands between N150 billion and N180 billion.

RELATED POSTS

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

ECOWAS, Sahel states in deal to confront terrorism

Ugbo said this during a roundtable with newsmen on Monday in Lagos.

He identified Nigeria Bulk Electricity Trading Company (NBET) and the Central Bank of Nigeria (CBN) as one of the companies owing NDPHC.

Ugbo, however, maintained that the debts did not affect the company’s drive for Light up Nigeria Project.

The NDPHC boss said that the company was also indebted to other entities in the value chain, which include the gas producers.

On the Light UP Project of the company, the NDPHC boss said, “We have started with Ibadan Electricity Distribution Company (IBEDC) to supply Ota Industrial Clusters, while many other projects are also on with other DisCos.”

He said that the stake of 10 Inregrated Power Plants (NIPPs) was embargoed because the owners of the business were yet to take a decision to sell.

“The owners of the business have not come up with a decision to sell. We at the NDPHC are just care-takers.

“We will act based on any decision taken by the owners of the business, which are the federal and the state governments,” he said.

Those that attended the meeting were Mr Abdullahi Kassim, Executive Director Generation; Mr Ifeoluwa Oyedele, Executive Director, Networks and Dr Steven Andzenge, Execultive Director, Legal Services.

Tags: DebtPower
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

79 candidates for presidential election
News

Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF

June 23, 2025
Gombe: Troops take over to enforce peace
News

Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years

June 20, 2025
ECOWAS, Sahel states in deal to  confront terrorism
Foreign

ECOWAS, Sahel states in deal to confront terrorism

June 20, 2025
Tinubu denies manipulating NASS
Economy/Technology

Tinubu’s decision to press ahead with ongoing reforms, commendable-TMSG

June 20, 2025
Buhari urges Nigerians to maintain peace as he promises free, fair polls
Economy/Technology

TDF extols Buhari for supporting Tinubu’s reforms

June 19, 2025
Nigerians to own brand new vehicles, goods through new credit scheme initiative
News

Tinubu’s mid-term scorecard, a glimpse of coming dividends – TMSG

June 19, 2025
Next Post
Cross-border traders protest new barriers to trade in food in EAC

Africa losing $952bn every year to ‘hidden food cost’ , raising disease, poverty Burden

Saudi Arabia dangles debt reprieve offers to Africa

Saudi Arabia dangles debt reprieve offers to Africa

Recommended Stories

Trading in Nigerian stock market dips further N83bn

Positive trends in stock market reflection of reforms – NGX boss

January 25, 2024
Tinubu commits to economic reforms as Nigeria marks democracy day

PWC’s rating of Nigeria proves opposition wrong about Tinubu’s reforms

July 2, 2024
How NNPC is solving lingering petrol scarcity

No basis for current petrol scarcity -vPENGASSAN

January 31, 2023

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Tinubu’s new INEC building: A consolidation of democratic institutions, legacy in Nigeria – TDF
  • Nigerian Army kills 6,260 terrorists, rescues 5,365 civilians in 2 years
  • ECOWAS, Sahel states in deal to confront terrorism

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us