The Minister of State Power, Jerry Agba, has stated that power shortages are still a concern in Nigeria due to challenges from gas supplies, especially with Generation Companies (GENCOS). Speaking at the Federal Executive Council meeting presided over by President Muhammadu Buhari, Agba noted that negotiations with the Nigeria National Petroleum Corporation (NNPC Ltd) were ongoing to augment gas supplies to distributors at local rates.
Agba’s comments are timely, given the power shortages being experienced in the country despite the billions of naira the outgoing administration invested in the power sector in the last few weeks. He expressed hope that power stability would improve in a few days with the interventions being put in place.
The Minister further explained the negotiations with gas supply companies and the NNPC to assist GENCOSs in buying gas at local rates rather than the export rates, which come with a differential. With the agreement in place, gas is now being supplied commencing last week, which should improve power generation and supply in the coming weeks.
The distribution of the generated power will be handled by Distribution Companies (DISCOs), and the government is committed to ensuring that the transmission companies have all the necessary equipment for effective and efficient transmission. Despite the challenges posed by the rains, the government is optimistic that there will be improvements in power supply in the coming weeks.
Agba also noted that the Federal Executive Council approved the award of a contract for the procurement of telephone numbers of 33 KV circuit breakers and 120 numbers of surge arrestors for systems used by the Transmission Company of Nigeria. This is an indication of the government’s commitment to providing improved electricity services to Nigerians.
In conclusion, Nigerians await the outcome of the government’s recent interventions to see if power stability in the country may finally become a reality.
