The Nigerian National Petroleum Corporation (NNPC) has said it will sell unused energy to the Transmission Company of Nigeria (TCN) for onward transmission to the National Grid.
Group Managing Director of the corporation, Emmanuel Ibe Kachukwu, who made this known during a meeting with select editors, disclosed that only 15 per cent of the energy generated by the corporation is actually used.
That means that electricity supply will get a boost when it sells the unused 85 per cent to the transmission company.
Kachukwu made it clear that, henceforth, it will no longer be business as usual as he is set to turn the corporation into a profit making one that will support government. The new helmsman said all forms of wastefulness will no longer be tolerated as every kobo matters.
Acting Managing Director, TCN, Atiku Abubakar who made this known said it would be engaging 30 local and foreign investors in its bid to raise the funds to aid the expansion of the country’s power transmission infrastructure.
The company said it would be engaging the investors in its financing scheme whose capabilities in terms of technology and finances had been duly ascertained.
