Mike Uzoigwe, chief executive officer, Egbin Power Plc, has disclosed that a total of N50 billion has been injected into the Egbin Thermal Power Station since November 2013, when the company was privatized.
Uzoigwe stated this during the visit of Chinedu Nebo, minister of power. He said part of the investment was the rehabilitation of the 220 megawatts (mw) steam turbine generator, which had been abandoned for eight years after it went bad.
He said the company was committed to making the units at the plant more reliable, hence the total overhauling and retooling of some of them.
“Since we took over this company, a total investment of N50 billion has been committed to our operations,” he said.
He added that the target is to ensure that the operating units at the plant deliver maximum output so that more power will be made available to the Nigerian people.
“For instance, the control room has been totally overhauled, as well as the philosophy of our people. We have deployed new technologies that enable our engineers to solve problems in the plant by the mere click of a mouse”, Uzoigwe added. According to him, more than 100 of the company’s employees have been sent to Korea for capacity building programmes since November last year.
Nebo, in his address, said Egbin Power had done well in trying to regain lost capacities. He said the company was likely to double its current output in a few years given its level of seriousness.
“We have been assured by the new owners of the station that now that the 220mw unit has come on stream, the station is targeting to contribute about 2,670mw to the national grid.
“Government has lots of other basic needs to attend to, government did not find the resources to revive it. What we are celebrating today is one of the rich harvests of privatization exercise. This has shown that privatization is working very well. This station is the largest power plant in West Africa,” he said.
The minister said the federal government would continue to boost the transmission capacity through significant investment.
For Kola Adesina, chairman, Board of Directors, Egbin Power Plant, the company would continue to support the transmission and generation arm of the power sector to ensure the effectiveness of the entire system.
He said for distribution, it remained committed to driving the smart-metering initiative so that the locations and quantum of power distributed would be effectively tracked, especially at the group level.
Egbin Power Plc also disclosed that due to the rehabilitation the plant is back to its installed capacity of 1,320mw.
“The rehabilitated and restored Unit ST-06 brings an additional 220mw to the Nigerian national electricity grid and will also bolster power supply to the Lagos metropolis, thereby improving socio-economic activities in the region,” the company said.
It added that, “with the unit now generating at full steam, Egbin is currently in the final stages of a bilateral agreement to supply the 220mw to the Ikeja Electricity Distribution Plc and Eko Distribution Company, a development that is set to yield about 16 per cent additional power supply to Lagos, the nation’s commercial nerve centre.

Folashade Olubayo
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