IBOM POWER UNDERSTANDS THE POWER SECTOR – FASHOLA

“Ibom power clearly understands the long term investment nature of power. They understand that it’s a call to service and prosperity rather than just a call to mere profit” the Minister of Power, Works and Housing, Mr. Babatunde Fashola has said.

Mr. Fashola spoke at the 25th power stakeholders meeting hosted by Ibom power company limited in Uyo where he also called out Akwa Ibom as the number one in terms of power infrastructure in Nigeria.

He seized the meeting to address the four power generation firms, Mainstream Energy Solutions Limited, Transcorp Power Limited, Egbin Power Plc and North-South Power Company Limited who jointly sued the Federal Government over alleged preferential treatment on Azura Power West Africa Limited and Accugas Limited at their own expense.

He said Azura has a Partial Risk Guarantee in their contract which the aggrieved Gencos do not have in their own contracts. He explained further that “they (Gencos) held a meeting with the government and tabled their demands to which government promised to look into but they went to court one week after that meeting”.

Fashola said even though the Gencos were within their rights to seek redress from the court, they were impatient. He concluded by saying the Gencos will need to explain to the court whether one week was sufficient time for government to meet their demands.

The hearing for the suit before Justice Binta Nyako marked FHC/ABJ/CS/180/2018 has been fixed for April 16, 2018, Punch reports.

The post IBOM POWER UNDERSTANDS THE POWER SECTOR – FASHOLA appeared first on Ibom Power Update.


Source: News feed
IBOM POWER UNDERSTANDS THE POWER SECTOR – FASHOLA
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