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Wednesday, April 17, 2024

TCN Gets New Chairman As Nebo Reads Riot Act

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Teddy Oscar, Abuja

Six days, after Engr. Hamman Tukur resigned his position as the chairman of the supervisory board of the Transmission Company of Nigeria (TCN) Plc, the newly appointed chairman, Mr. Ibrahim Dahiru Waziri, was formally inaugurated on Tuesday in Abuja by the minister of power, Prof. Chinedu Ositadimma Nebo.

 

You would recall that Waziri’s appointment was approved by President Goodluck Jonathan to take effect from December 24, 2013 by Jonathan, after Tukur had informed Jonathan that he (Tukur) would resign from January 1, 2014.

 

During the inauguration, Nebo charged the principal players in the nation’s electricity sector to sit up and be committed to ensuring that power supply is significantly and visibly improved by June.

 

The minister specifically observed that the Federal Government has done enough to ensure that adequate power is generated and delivered to Nigerians.

 

“Let me restate that the nexus between availability of power and the socio-economic development of our great nation cannot be overemphasised. The resolution of the problem of inadequate power supply to our people has continued to receive the full attention and support of our leader, President Goodluck Ebele Jonathan.

 

“While we celebrate the unprecedented success so far recorded in the reform of the power sector, the yardstick, which consumers measure us, is the availability of electricity at the last mile to our homes and businesses.

 

“I wish, therefore, to charge all the principal sector players here today to commit to ensuring that power supply to our customers is significantly and visibly improved by June this year as already directed by Mr. President. Much is expected of us all and the entire nation is waiting for us.

 

“The significant investment of the Federal Government in both material and human resources must translate into improved service delivery during the year. Government will no longer tolerate any excuse of non-performance from any of the sector players from both the ministry particularly and our new private sector partners.

 

“With respect to the new owners of the legacy assets, I also want to assure you all that the ministry and other agencies of government would invoke all relevant clauses in the agreement divesting ownership of Gencos and Discos to new investors. Nigerians must, I repeat, must enjoy the dividends of the reform program and non will be allowed to frustrate this vision of Mr. President,” he said.

 

Nebo also had some words for the new chairman, whom he (Nebo) specifically reminded of the critical role of national grid in a deregulated electricity industry.

 

The minister, therefore, charged Waziri to drive the management of TCN towards creating a national grid that will be capable of reliably and efficiently evacuating all generated power nationwide.

 

“To the new chairman and board of TCN, I specifically wish to draw your attention to the critical role of national grid in a deregulated electricity industry. The risk of non-performance by TCN affects not only existing IPPs and Discos but also nullifies all our effort towards creating a conducive investment climate for the sector.

 

“You must, therefore, drive the management towards creating a national grid capable of reliably and efficiently evacuating all generated power nationwide. The board is also expected to ensure that only prudent investments in transmission lines and substations are approved for implementation.

 

“This is no time for projects with only fringe benefits to the national economy. I also implore the board to take advantage of the numerous PPP proposals on the table and provide the required leadership in seeking funding for capital projects beyond annual appropriation.

 

“I am confident that with the right leadership and calibre of the members of the Board of TCN, you will support the Federal Government in transforming TCN to a viable and profitable enterprise, to the glory of our nation,” the minister added.

 

In his acceptance speech, Waziri observed that the power sector transformation initiative is the fulcrum on which the much expected and deserved take-off of the Nigerian economy hinges.

 

“I fully understand this. It is no exaggeration to say ‘as goes the power sector, so goes the Nigerian economy’. This, therefore, places great responsibility on all of us privileged to be serving in the sector to strive hard and harder still in order to meet the legitimate expectations of our fellow citizens and other stakeholders. To this proposition, I am fully committed,” he added.

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