How Geregu Power became one of the best performing power plants in Nigeria – Akin Akinfemiwa

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.


Only two of six privatised power plants delivered on targets – BPE

The Bureau of Public Enterprises (BPE) on Tuesday delivered an unflattering assessment of the performance of the power sector since it was handed over to new private operators in 2013.

The Director-General of the privatisation agency, Alex Okoh, told the Senate Committee on Power during its investigative hearing on the power sector recovery plan that only Transcorp Power Limited and Geregu Power Limited out of the six privatised electricity generation companies (GENCOs) have met their performance targets since taking over.

Transcorp Power, operator of the 972 megawatts (MW) Ughelli power plant reputed to be Nigeria’s largest fossil-fuel based power plant, is owned by the UBA Chairman, Tony Elumelu.

The 434 MW-capacity Geregu Power plant operated by Amperion Power Distribution Company Limited, a subsidiary of Forte Oil Plc, is owned by investor and businessman, Femi Otedola.

The two companies were among the winners in the bid for four power plants privatised by the BPE in 2012.


Forte oil, others invest $94m in Geregu power plant

ABUJA – The Forte Oil PLC and new owners of the Geregu Power Plant in Kogi State have invested $94 million in the plant targeting to raise its generation capacity from 414 megawatts to 434 megawatts of electricity.

This development was contained in a communiqué issued at the end of the 22nd monthly meeting of the Power Sector Operators, hosted by the Kogi State Government in collaboration with Geregu Power Plc at Geregu Power Plant, Ajaokuta, Kogi State.

The meeting according to the communiqué, “Acknowledged the Kogi State Government for resolving the way leave problems that were preventing progress on the construction of the TCN substation of Kabba. Completion of the substation will increase delivery of power to Kabba and environs.