‘Power sector revenue shortfall hits N309b’

A Sat April 2019, total revenue shortfall in the Nigerian power sector amounted to N309b because power distributors and transmitters could not meet their obligations due to illiquidity in the sector.

A former Managing Director of the Transmission Company of Nigeria (TCN), Dr. Abubakar Atiku, who spoke on The Nigerian Electric Power Industry in Crisis: Getting Back to the Basics,’ disclosed this in Abuja.

He said this when the Nigerian Institute of Power Engineers (NIPE), a division of the Nigerian Society of Engineers (NSE) made Managing Director of Ibom Power Company Limited, Meyen Etukudo a fellow at the second edition of the international power engineering conference in Abuja. National Chairman of NIPE, Israel Abraham said it conferred its highest honour on Etukudo in recognition of his exceptional performance in the engineering profession over the years.

Atiku however, identified illiquidity, insufficient power generation, inadequate power evacuation capacity and dilapidated distribution infrastructure, as the major challenges of the Nigerian power sector.

Atiku urged the Federal Government and the Nigerian Electricity Regulatory Commission (NERC) to intervene in these areas to sustain the Nigerian Electricity Supply Industry (NESI).

Abraham added that Etukudo had over 30 years of working experience at the defunct National Electric Power Authority (NEPA), Power Holding Company of Nigeria (PHCN), National Integrated Power Projects (NIPP) and Transmission Company of Nigeria (TCN) before joining the Akwa Ibom State government as Special Assistant on Power to Governor Udom Emmanuel.