Rain responsible for improved power supply – Egbin Power CEO

Rain responsible for improved power supply – Egbin Power CEO

Egbin Power CEO, Mr. Dallas Peavey has said that improved power supply experienced in some parts of the country is due to the rainy season.

Read also: Electrocuted Unilag Student’s family paid N45m Compensation

Mr. Peavey made this known in an interview he granted Punch in which he lamented the frustration being faced by electricity operators in the country.

“We have had more rains, leading to increase in generation from the hydro power plants. But in the next few months, there won’t be any more rain and so the output from the hydro power plants will dissipate and we will be back to generating from Egbin, because it is the largest in sub-Saharan.”

He said the company has never made profit since it commenced operation, “We have never made a profit. We are owed N86bn and we have lost $300m in the last three years directly out of our pocket because we haven’t been paid and because we have invested that money and we have got no returns. We don’t expect the returns immediately, but at some point, every business has to be able to sustain itself with profits or returns on its investment.”

Related Articles

NYSC Confirms Rumoured Killing of Corper

The National Youth Service Corps (NYSC), on Monday, confirmed that a youth corps member is among the six persons that

Uduaghan Advocates Long-Term Planning For Sports Development

DELTA State Governor, Dr Emmanuel Uduaghan has advocated long term planning as the panacea to the dwindling fortunes of Nigeria’s

Fuel hike: Private sector, Aviation workers, back out of planned strike

Barely three days to the commencement of the planned nationwide strike action by the Nigeria Labour Congress, and the Trade


Other Interesting Posts

Reuben Abati arrested by EFCC
Former Special Adviser to ex-President Goodluck Jonathan on Media, Dr. Reuben Abati has been arrested by the Economic and Financial Crimes Commis...
N304.1m fraud: EX-NIMASA DG, Karo, others out for plea bargain
A former acting Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Haruna Jauro, and two others on Monday told a...
Charly Boy urges ordinary Nigerians to fight the ruling class
Maverick showbiz personality, Charles Oputa popularly known as Charly Boy, has urged ordinary Nigerians to stand up against the ruling class and ...
powered by RelatedPosts