FG sets aside N200bn for power sector liabilities

Posted on : Monday , 8th September 2014

 The Federal Government has set aside N200bn for the payment of outstanding market liabilities and financial obligations in the power sector.

The Chairman, Presidential Task Force on Power, Mr. Reynolds Dagogo-Jack, said this in Uyo, Akwa Ibom on Friday while on an inspection tour of power projects in the state as well as Cross River State.
A statement issued by PTFP in Abuja on Sunday did not give details of the use of the fund, but Dagogo-Jack described it as an intervention fund set aside by the Federal Government to settle market liabilities.
Dagogo-Jack, who led a delegation of PTFP officials on a two-day inspection of the projects, commended the Governor Godswill Akpabio of Akwa Ibom for taking the bold steps in developing an Independent Power Project, the Ibom Power, for the industrialisation of the state.
The PTFP chairman expressed satisfaction with the performance of the Ibom Power Generating Company, a 190-megawatts plant established and wholly owned by Akwa Ibom State Government.
He stated that the formation of a joint venture for the development of gas projects across Akwa Ibom State was a platform for technology parks, industrialisation, employment generation and socio-economic development of the state.
Dagogo-Jack described the state as a leading example in the running of IPPs and encouraged 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.

Source :




Expogroup is a full service exhibition organiser with over eighteen years experience in International.Trade Exhibitions and Events. Our current portfolio includes 20 annual exhibitions from a diverse range of industries being held across the Middle East & Africa.

EXPOGROUP © 1996 - 2024 | Privacy Policy

Find us here

Subscribe Newsletter

Join our mailing list and receive latest news and advice from us in our monthly Newsletter

Yes, I would like to receive Expogroup E-newsletters

Instant Reply