WorldStage Newsonline– President Bola Tinubu has commended the Chairman of Geometric Power Generating Company, Prof. Barth Nnaji, for his doggedness towards his dream of building a power plant in Aba.
Represented by Vice President Kashim Shettima at the inauguration of the Integrated Power Project (IPP) by Geometric Power Group, Tinubu said that the plant would also enhance the efficiency of the nation’s power sector.
He said that the project bore testimony to the power of achieving one’s dreams.
According to him, persistence in following one’s dream facilitates its actualisation.
He said that although it took 20 years for the project to be achieved, it strongly confirmed that commitment and determination to a cause would always produce good result.
Tinubu expressed delight over the completion of the project and the multifaceted benefits it would bring to the state and nation at large.
He said that he was proud of Nnaji for his contribution toward boosting power supply in the country.
He also commended the President of AFREXIM Bank, Prof. Ben Oramah, for his consistency in promoting any cause that would bring sustainable growth and development in the country.
Tinubu described Oramah as a quintessential African, who used his platform not for personal aggrandisement but the advancement of the cause of the blackman.
He said that leadership remains a very crucial factor in the African setting, adding that Gov. Alex Otti of Abia had made a positive impact in the lives of the people through good governance.
“Today in Aba, I saw testimony of good leadership and I saw the outpouring of love and support for Otti.
“I was privileged to inaugurate the Queens Street, Jubilee Road and Umuoba Road.
“Your Excellency, posterity would be very kind to you, keep the flag flying and keep up the good work,” he told the governor.
In a speech, the Minister of Power, Chief Adebayo Adelabu, said that the project comprised two parts, including the power generation company, named Geometric Power Limited, and Abia Power Limited.
Adelabu said that the company had been licensed to generate 188 megawatts of electricity, which would be distributed to nine Local Government Areas (LGAs) of Abia.
He also said that any power, which the residents and businesses did not use, would be delivered to the national grid.
He said: “The Federal Government has continually showed support to the project because of its strategic contribution to the development of Nigeria.
“I am confident that with this project, power supply would improve greatly and Aba people would consistently pay their electricity bills, henceforth.
“The end is coming to estimated billing.
“You will all get your meters and pay for the actual amount you incurred.
“The Federal Government would watch the performance of Geometric Power closely, when it succeeds, we will use it as a business model for others for radical improvement of the nation’s power sector,” Adelabu said.
In an address, Otti said that the Aba IPP would generate 141 megawatts of electricity and had the permission to be expanded to 188 megawatts.
The governor also said that the power generation and distribution facility had been built to supply uninterrupted power supply to businesses and households in the nine LGAs within the Aba axis.
He said that the project was a testament to the commitment of the Federal Government towards supporting private sector investors in search of a robust model for electricity value chain in the country.
He urged the residents to pay their electricity bills to facilitate steady operations of the facility and charged community leaders to work closely with security agents to guard against any form of vandalism of critical power supply infrastructure in the state.
He further urged the business division of the company to avoid any form of customer extortion and commended the commencement of its mass metering for households and business premises.
Earlier, Nnaji said that the project was evolved 20 years ago out of the desire to provide additional and good quality power in Aba as well as increase power supply in the country.
“It became apparent for us that the best way to ensure that Aba metropolis would quickly have reliable and affordable electricity was to build this autonomous power project to serve the metropolis with excess power delivered to the national grid.
“This desire for a reliable electricity is what led us to Aba IPP.
“We appreciate the partners as well as the federal and state governments for their support to the success of this project,” Nnaji said.
OKONJO-IWEALA CALLS FOR PROPER REGULATORY ENVIRONMENT
Director General, World Trade Organisation, Dr Ngozi Okonjo-Iweala in her goodwill message, sent virtually called on various governments in Nigeria to create proper regulatory environments to ensure success of investment in the power sector.
She explained that creating proper regulatory environments were needed to enable the country’s energetic private sector follow the Aba IPP example and invest more in energy infrastructure.
According to her, the Aba IPP is a great example of the type of private sector infrastructure investment we want to see in Nigeria, especially around the South East.
“The benefits are truly significant especially for the thousands of small and medium scale enterprises in Aba, including our well-known industrial market, Ariaria.
“The nation will also benefit from the additional megawatts of power that Aba IPP will send to the national grid instead of being used in Aba.
“The Aba IPP is totally funded by African capital, something we should all be proud of.”
Okonjo-Iweala also said that the expectation of establishing Aba IPP was to help stimulate other investments in manufacturing in the Aba area through providing reliable electricity.
She added that another advantage of the IPP was that it makes use of the nation’s gas, a clean energy transition fuel that Nigeria is so fortunate to have in abundance.
“There is really no reason why this country should have the majority of its households without power or have industries struggling when we have the basic energy transition fuel that other countries are yearning for.
“Let me reiterate how excited I am that this thing has finally come. I wish you all a wonderful and successful event,” she said.
