FG; N200bn Set Aside for Power Sector Liabilities

The Chairman, Presidential Task Force on Power, Mr. Reynolds Dagogo-Jack, disclosed that the Federal Government has set aside N200bn for the payment of outstanding market liabilities and financial obligations in the power sector.

Mr. Dagogo-Jack made the statement in Uyo, Akwa Ibom State, on Friday, July 5, while on an inspection tour of power projects in the state as well as Cross River State. He said the fund was an intervention fund set aside by the Federal Government to settle market liabilities.

The PTFP Chairman also commended the Governor Godswill Akpabio of Akwa Ibom foe taking the bold step in developing an independent Power Project, the Ibom Power, for the industrialization of the state.

Mr. Dagogo-Jack added that the formation of a joint venture for the development of gas projects across Akwa Ibom State was a platform for technology parks, industrialization, employment generation and socio-economic development of the state.

He described the state as a leading example in the running of IPPs and encourages other state governments to emulate Akwa Ibom by setting up their own power enterprises.

The Deputy Governor of Akwa Ibom State, Mrs. Valerie Ebe, who received the PTFP delegation on behalf of the governor, appreciated the chairman’s determination to ensure the smooth running of power and gas projects in the state.

She urged PTFP to follow up on the refund of the money owed the Ibom Power by the Federal Government and ensure the timely delivery of the 330KV sub-station at Ikot-Abasi as well as the completion of compensation issues as regards the transmission switching station at Ikot Ekpene.

The tour covered gas pipeline projects, IPPs, National Integrated Power Production plants, and transmission stations in both states.