The Managing Director, Niger Delta Power Holding Company (NDPHC), Mr Chiedu Ugbo, has said that a $5.6 billion (about N1.76 trillion) sales offer has been made for the 10 National Integrated Power Plants (NIPP) plants built with $4bn (about N1.25trn) investment.
Ugbo said in an that the company jointly owned by the three tiers of government has so far spent $8.5bn (about N2.67trn) in critical power infrastructures including gas, generation, transmission and distribution.
He said, “We received offers of about $5.6bn but the cost of developing these projects is about $4bn. For the distribution projects, we have spent one billion to $1.5bn so far. Over $2bn has been spent in transmission. In all, it is in the neighbourhood of $8.5bn and the projects are there for people to see.”
Ugbo, who took over from the pioneer boss, James Olotu, in June 2016 said he is achieving the mandate given to him to provide power for Nigerians. (Dailytrust)
