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

(PHOTOS) 3 NIGERIAN SURGEONS, OTHERS SEPARATE CONJOINED TWINS AFTER 26 HOURS

It has emerged that three Nigerian born surgeons were among the team of 12 surgeons in the US, who successfully

N8.5bn fraud: Witness reveals more monetary transactions involving ex-JTF commander

A prosecution witness, Teslim Ajuwon, on Wednesday, told a Federal High Court in Lagos, that Maj. Gen. Emmanuel Atewe was

MAN ARRAIGNED FOR BURYING CHARMS CLOSE TO NEIGHBOUR’S HOUSE

The police have arraigned a labourer, Taiwo Ayodele, in an Upper Area court in Karu in Abuja, for burying a


x

Related Posts

(Video) Watch best of Nigerian Henry Onyekuru as he is close to sign for Arsenal
Arsenal FC is reportedly in talks with Nigerian teenage sensation, Henry Onyekuru, who plays for Belgian side, KAS Eupen. The 19-year-old is b...
Lagos socialite wanted for cocaine trafficking surrenders herself to NDLEA
Popular Lagos socialite, Mrs. Fumilola Arike Ogbuaya a.k.a. Arike Fumilola Ogundipe, who was declared wanted for alleged cocaine trafficking has ...
Nigerian pastor shot dead in his US apartment
A Nigerian working as a pastor in United States, Oluwadayomisi Epenusi, was shot dead at his apartment in Indiana in United States. Late Epenu...
powered by RelatedPosts