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Home Business News

Chibek Ltd wants higher power tariffs that are ‘cost-reflective’

Chacha Wabara by Chacha Wabara
September 12, 2017
in Business News, Company News
Another Reason Why Power Supply Has Increased Under PMB
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In a bid to assist in tackling liquidity challenge in Nigeria’s power sector, Chibek Ltd wants higher power tariffs that are ‘cost-reflective’.

The company has been able to attain 70% completion of a lithium base integration plant despite the challenges the company has been faced with so far.

In his words, the Chief Executive Officer, Chibek Instrument Limited, Mr. Charles Ibe said “The technology we are bringing into the market is a hybrid system; we harness energy from different sources, including solar, generator and electricity.”

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He went further to say “The system will store electricity effectively, and use it to power facilities automatically. We are also building capacity to be able to manufacture this system in Nigeria. Currently, our facility is 70% ready, and we are going to be the first Africa country to build a lithium base integration plant.”

So far, the first phase has already run into billions (about N7 billion) and they just got started. Mr. Ibe assures that by the time this project is completed, the project would have created many multiplier effects such as employment, capacity building and local content. The production of lithium battery is a mega project and mega results are being anticipated.


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Tags: chibek limitedElectricityNews Reviewpower tariff
Chacha Wabara

Chacha Wabara

Chacha Wabara-Ogbobine is a Legal practitioner with over 9years post call experience. A research Consultant, professional writer and a blogger at heart,owner of four thriving websites with well over 10years of experience. Totally in love with keeping fit and coaching weight loss enthusiasts. I love my quiet time, being with my kids, watching TV series for hours on end.

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