… as NDPHC moves to bond market to clear power sector debts with President’s approval
Oredola Adeola
Vice President Kashim Shettima has revealed that the Niger Delta Power Holding Company’s (NDPHC) 20th anniversary marks a turning point in its evolution into a commercially disciplined, market-focused power enterprise while continuing to fulfill its national mandate.
Speaking on Wednesday at the company’s anniversary celebration held at the State House Banquet Hall, Abuja, Shettima acknowledged NDPHC’s significant contributions to national development over the past two decades.
The Vice President noted that the enactment of the Electricity Act 2023 represents a defining turning point for Nigeria’s power sector and for NDPHC, stressing that the legislation provides clearer legal authority, enhanced commercial credibility, and stronger institutional footing for the company to compete, partner, and grow within a more open and dynamic energy market.
Shettima, who also serves as Chairman of the Board of NDPHC, said the board views the milestone as an opportunity for institutional evolution—from an integration-driven entity to a commercially disciplined and market-focused enterprise—while remaining faithful to its national mandate.
According to him, the board has prioritised extracting greater value from existing assets, strengthening contracts and market participation, ensuring governance-led commercialisation, managing risks responsibly, and investing in human capital.
“As Chairman, I wish to state unequivocally that the board remains fully committed to its responsibilities. We will continue to provide strategic direction, uphold the highest standards of governance, support management in taking sound and accountable decisions, protect shareholder value on behalf of the Nigerian people, and keep NDPHC aligned with national energy and development goals,” he said.
The Vice President also commended President Bola Ahmed Tinubu for restoring investor confidence in the power sector.
“In a time when the power sector required not just policy but results, Mr. President has been a magician working not with illusion, but with discipline and reform.
He has restored confidence in the sector and created the conditions for institutions such as NDPHC to thrive,” Shettima added.
Earlier, Minister of Power, Chief Adebayo Adelabu, underscored NDPHC’s critical role in the nation’s economy over the past 20 years, describing the company as a key pillar in expanding and safeguarding Nigeria’s electricity generation capacity.
He said through the National Integrated Power Project (NIPP), NDPHC has developed generation plants and associated value-chain infrastructure across the country, creating one of the largest portfolios of government-backed power assets in Africa.
“Whether you work in the field restoring turbines, in control rooms ensuring dispatch, in procurement securing parts and services, or in offices shaping policy and stakeholder engagement, your contributions are evident in the plants operating today and the lives benefiting from improved electricity supply,” Adelabu said.
The Minister disclosed that NDPHC has recently restored 345 megawatts of generation capacity to the national grid, including 120MW from Omotosho NIPP, 112.5MW from Benin NIPP, and 112.5MW from Ihovbor (Geregu/Talata?) NIPP.
He also highlighted the company’s implementation of the Light Up Nigeria project, aimed at boosting industrialisation and delivering reliable electricity to industrial clusters nationwide.
“These achievements are part of the gains from the broader reforms under the leadership of President Bola Ahmed Tinubu to improve reliability, expand access, and attract investments in line with the Renewed Hope Agenda,” Adelabu said.
Dr. Ekperikpe Ekpo, Minister of State for Petroleum Resources (Gas), has commended Engr. Jennifer Adighije, Managing Director of NDPHC), describing her performance as outstanding within the short period she has assumed leadership of the company.
“I was thrilled to see that we have a wonderful woman appointed into office who is performing exceptionally well. I came here to appreciate the Engr. Adighije, for the remarkable work she has done,” Ekpo said.
He emphasized that aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda remains paramount, noting that sustainable power supply is fundamental to national development.
“Without power, there can be no industrialisation, and our homes cannot function optimally. Listening to her presentation and the improvements that have taken place in the power sector, I am confident that Nigeria is headed in the right direction,” he added.
Ekpo also commended the leadership at the board level, stating, “I appreciate her and her team. This commendation also goes to the Vice-President, who is providing strong leadership at the board level.”
Engr. Adighije, in her remarks, reaffirmed the company’s commitment to strengthening Nigeria’s energy infrastructure and supporting national development.
She said beyond power generation, NDPHC has successfully executed projects across the transmission and distribution segments of the electricity value chain.
“In the transmission segment alone, we have added over 9,000 MVA of installed transformer capacity, rolled out transmission substations, line-bay extensions, and constructed hundreds of kilometres of transmission lines across the country,” she said.
Adighije noted that under her leadership, NDPHC is adopting a customer-centric approach and leveraging the Electricity Act to deepen strategic collaborations with bilateral partners, eligible customers, regional partners under the West African Power Pool, and other market participants.
She further disclosed that with the approval of President Tinubu and the Minister of Power, NDPHC has approached the bond market under the power sector refinancing plan to raise capital to defray government indebtedness to power generation companies.
According to her, the initiative is expected to be a game changer for Nigeria’s power sector.
