Power-Plant-16The Chairman, New Electric Distribution Company /Kepco Consortium, the new owners of Ikeja Disco, Mr. Kola Adesina, has warned institutional debtors, especially government parastatals, to pay up their debts or face disconnection.

A statement on Wednesday quoted him as saying this after receiving the certificate of handover of the company from the Federal Government recently in Lagos.

Ten distribution and five generation companies formerly owned by the defunct Power Holding Company of Nigeria Plc were handed over by the government to private investors on November 1, 2013.

Adesina said, “We are committed to making great improvement in electricity distribution in Nigeria. We shall deliver results within the stipulated time. To all government institutions and I repeat, to all government institutions, please pay your bills on time. Our customers too should please pay their bills on time.”

The NEDC/Kepco Consortium took over the Egbin Generation Company and Ikeja Disco while West Power and Gas took over the Eko Disco.

Adesina expressed optimism that the power sector would be revitalised following the successful takeover of the PHCN successor companies by private investors.

In view of this, stakeholders have urged the new power firms to embrace accountability and efficiency as they go about their operations in the electricity supply industry.

They lamented that poor outages had been a major setback against growth in Nigeria, thus pushing up the cost of business for manufacturers.

This, they said, had made the country uncompetitive as an investment destination.

The expectation, according to them, is that electricity-starved Nigerians will soon begin to enjoy regular power supply.

Ecobank Plc was quoted as indicating that it would lend significant support to the new investors toward effective financing of the power plants.

To substantially boost electricity generation and supply in the country as well as make the sector commercially viable, President Goodluck Jonathan, on August 26, 2010, unveiled the road map for power sector reform and outlined government’s strategies to end the decade-long electricity crisis.