New power company owners should improve electricity supply- Sambo

Vice President Namadi Sambo has charged the
new owners of the Power Holding Corporation
of Nigeria to transform the company to a world
class company of reference in terms of quality
of service delivery and  customer’s satisfaction.
Sambo gave  the charge at the handover of the
EKO distribution Company to West Gate Power
and Gas held at the company headquarters in
Marina, Lagos.
Sambo, who was represented by the Minister
for Trade and Investment, Dr. Olusegun Agaga
said the government hopes that the
participation of the private sector would bring
about higher generation capacities through the
provision of more efficient and cost efficient
power stations and improvement in electric
power distribution in the areas of billings and
collection, transmission networks.
He said that the handover ceremony is a
culmination of 14 years of painstaking efforts
by the National Council on Privatization (NCP),
The  Bureau of Public enterprises, the federal
Ministry of Power and other key stakeholders to
reform and liberalize Nigeria’s electricity
industry.
He added that such capital injection and
efficiency have been inadequate in PHCN over
the years resulting in gross inadequate power
supply with the attendant negative effects on
the citizenry and the economy at large.
“No government around the world has the
capacity and resources to build the power
sector that is sustainable for its citizen which
led to the reforms and privatization programme
which would allow more Nigerians to have
access to power and our industry would make
their product more competitive because of
adequate power supply” he said.
Sambo  said the reforms and privatization
progranmme are rightly focused on the big
picture which is the impact on the economy as
a whole and ultimately the greatest good for the
greatest number of Nigerian.
Noting that the challenges facing the electricity
sector in Nigeria are enormous, he said the
federal government is committed to creating
the enabling environment that would incentivize
the private sector investors to take on these
challenges  and the opportunities therein to
ensure quality and cost effective service
delivery to the Nigeria electricity consumers
Earlier the Chairman of West Gate Power and
Gas, Mr. Charles Momoh, who thanked  the
federal government said the handover of the
power sector to local and foreign investors is a
statement of confidence reposed on the current
administration which is worthy of emulation.
He promised  that the company will invest in
matrices, changing of the systems,
transformers, staff training and ultimately
ensure that standards are kept in the interest of
the consumer.