The management of Geregu Power Plc earned a rare commendation from the lawmakers in the Senate, as the lawmakers lauded the efforts of the company for meeting the performance target set by the Bureau of Public Enterprise (BPE).
At the end of the just-concluded three-day investigative hearing on the power sector recovery plan, the lawmakers blamed the hiccups in the power sector to lack of coordination among players responsible for power administration in the country. But the committee submitted that only two of the six privatised GenCos- Geregu Power and Transcorp Power met the performance targets set by BPE.
The Chairman of the committee, Gabriel Suswam, said: “We have listened to presentations from the government side and the operators and we have seen that there is no alignment anywhere and that is the problem. Once there is an alignment and proper coordination, there will be sanity and progress. Out of six GenCos privatised, only two of them are performing.”
The Director-General of Bureau of Public Enterprise (BPE), Alex Okoh, said, “Geregu Power met its minimum performance target set for it in 2013, while the other four GenCos did not meet their targets for various reasons. It achieved 435mw from its 414mw at handover.”
But what has been behind Geregu Power Plc’s success considering the numerous challenges in the sector?
The company attributed its success to its long-term investment plan, reaffirmed belief in the overall objective of the power sector reform programme of the Federal Government.
In an exclusive interview with Nairametrics, the Chief Executive Officer, Geregu Power Plc, Akin Akinfemiwa, attributed the success of the company to a strong focus in certain areas.