The Chief Executive Officer,
Transcorp/Woodrock, the consortium that won the bid for Ugheli Power
Plc, Mr. Tony Elumelu, on Thursday said with the signing of transaction
and industry agreements for the Power Holding Company of Nigeria’s
successor companies, the stage was set for the citizens to enjoy
uninterrupted power supply.
Elumelu spoke with State House
correspondents shortly after his firm, which emerged the preferred
bidder for the Ugheli plant, signed a Power Purchase Agreement with the
Nigerian Bulk Electricity Trading Company Plc.
The NBET signed similar agreements with
five other firms in respect to Geregu Power Plc, Sapele Power Plc,
Kainji Hydro Electric Plc, Shiroro Hydro Electric Plc and Egbin Power
Plc.
“Today is a very significant day for
Nigeria, significant because this is the issue of public-private
partnership in action. The government of President Goodluck Jonathan
promised Nigerians that they will have power, let there be light and
with what we are doing today, there is going to be light,” Elumelu said.
He said it was his firm’s conviction
that once the country could get its power sector right, economic and
social development would follow.
“We believe that power is so significant
for the economic development of the country; not only economy, but also
social development of the country. When we get power right, it will
lead to the development of Nigeria’s economy and will touch the society
in so many other areas,” he added.
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