• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, July 5, 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

Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs

Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG

Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

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

Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs

July 5, 2025
Veritas Kapital’s total assets hit N21.4bn
Economy/Technology

Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG

July 4, 2025
Salvaging basic education from ruins of Boko Haram war in Borno
Economy/Technology

Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

July 3, 2025
Group hails Presidential Council initiative, welcomes President Tinubu’s N2tn stabilisation package
Economy/Technology

Nasarawa showcases efficient use of fuel subsidy savings, exposes futility of Tinubu’s opposition’s mischief – TDF

July 1, 2025
Property owners besiege FCT office to pay ground rent
Economy/Technology

Transformational in FCT in line with Tinubu’s Renewed Hope agenda

June 30, 2025
China’s agricultural wholesale products prices continue to drop
Agriculture

Ignore Atiku’s claim to dilute historic mechanised farming deal with Belarus

June 29, 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

Ministers, portfolios, Buhari’s speech

Rising crude oil prices great opportunity for Nigeria — Buhari

March 1, 2022
Nigeria emerges Africa biggest energy sector

Malta to spend over £500m to tackle rising energy costs

October 25, 2022
UK economy returns to growth in April as consumer spending improves

UK’s £38m aid saving lives in Nigeria’s N/East- Foreign Secretary

August 3, 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

  • Atiku’s mockery of Nigeria over Trump’s invitation to 5 African nation, a display of poor knowledge of global affairs
  • Nigeria’s new flood insurance policy laudable, needs quick application, says TMSG
  • Nigeria’s approval of dual NCE, B.Ed degrees in 15 colleges of education a good omen

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