The Niger Delta Power Holding Company (NDPHC) has sought a directive for debt recovery from the Nigerian Electricity Regulatory Commission (NERC).
The NDPHC’s managing director, Jennifer Adighije, disclosed this as she led the company’s new management on a first official working visit to the Nigerian Electricity Regulatory Commission (NERC) in Abuja.
She said owing to the burden of debt the company is bearing, its board chairman, Vice President Kashim Shettima has charged it to recover the money.
The Vice President, she said, also charged the company to present a report on the recovery in two weeks.
Her words: “Our rising debt exposure, amongst other issues, were very key subjects of discussion, which is now threatening the survival of the company.
“This compelled the chairman to give us a directive to pursue debt recovery, amongst other issues, very aggressively, and report back on the progress made within two weeks.”
Adighije lamented that the firm which has the largest generation capacity is grappling with debt.
She acknowledged that the success of NDPHC in its exercise is subject to its cooperation and partnership with NERC.
The Managing Director also said there are several activities and valuations that are ongoing in the firm.
Soliciting the support of NERC, she urged the chairman, Engr. Sanusi Garba to expedite action in his internal process to deliver positive results while reporting to Shettima.
Adighije pleaded with Garba to set up a technical working committee to commence action on the issues.
The NDPHC boss said, “Therefore we appeal to you to use your kind of this to expedite your internal processes to ensure that we deliver positive results back to the chairman of the board.
“I would humbly request that you can, after this meeting, you can set up a technical working committee to begin to start to look at the issues that we would come up with so that we can begin to expedite our reconciliations as soon as possible.”
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She pledged her commitment towards partnering with the NERC to grow and add greater value to the Nigerian Electricity Supply Industry (NESI).
Responding, Garba said the Commission will always provide every possible support without bending the rules to make sure that the significant investment made by the three tiers of government in the company is brought to bear for the benefit of Nigerians.
He admitted that the challenges are quite important and require strategic direction for the organization
“We do understand that the challenges are quite significant.
“There is probably a need for more focus on strategic direction for the organization so that the little you have, it will spread too thick to a point where you do not deliver on anything,” he said.
Addressing reporters, Adighije said the management team was on a familiarization visit to NERC, to also express gratitude and deliver commitment for the deliverance of greater value in the industry.
The Managing Director said the positive feedback she got from the commission has inspired the management team to go back to align fully with the directive of the orders and mandate of NERC for the common good of the industry.
She said the team is ready to hit the ground running to deliver on its mandate.From John Ofikhenua, Abuja
The Niger Delta Power Holding Company (NDPHC) has sought a directive for debt recovery from the Nigerian Electricity Regulatory Commission (NERC).
The NDPHC’s managing director, Jennifer Adighije, disclosed this as she led the company’s new management on a first official working visit to the Nigerian Electricity Regulatory Commission (NERC) in Abuja.
She said owing to the burden of debt the company is bearing, its board chairman, Vice President Kashim Shettima has charged it to recover the money.
The Vice President, she said, also charged the company to present a report on the recovery in two weeks.
Her words: “Our rising debt exposure, amongst other issues, were very key subjects of discussion, which is now threatening the survival of the company.
“This compelled the chairman to give us a directive to pursue debt recovery, amongst other issues, very aggressively, and report back on the progress made within two weeks.”
Adighije lamented that the firm which has the largest generation capacity is grappling with debt.
She acknowledged that the success of NDPHC in its exercise is subject to its cooperation and partnership with NERC.
The Managing Director also said there are several activities and valuations that are ongoing in the firm.
Soliciting the support of NERC, she urged the chairman, Engr. Sanusi Garba to expedite action in his internal process to deliver positive results while reporting to Shettima.
Adighije pleaded with Garba to set up a technical working committee to commence action on the issues.
The NDPHC boss said, “Therefore we appeal to you to use your kind of this to expedite your internal processes to ensure that we deliver positive results back to the chairman of the board.
“I would humbly request that you can, after this meeting, you can set up a technical working committee to begin to start to look at the issues that we would come up with so that we can begin to expedite our reconciliations as soon as possible.”
She pledged her commitment towards partnering with the NERC to grow and add greater value to the Nigerian Electricity Supply Industry (NESI).
Responding, Garba said the Commission will always provide every possible support without bending the rules to make sure that the significant investment made by the three tiers of government in the company is brought to bear for the benefit of Nigerians.
He admitted that the challenges are quite important and require strategic direction for the organization
“We do understand that the challenges are quite significant.
“There is probably a need for more focus on strategic direction for the organization so that the little you have, it will spread too thick to a point where you do not deliver on anything,” he said.
Addressing reporters, Adighije said the management team was on a familiarization visit to NERC, to also express gratitude and deliver commitment for the deliverance of greater value in the industry.
The Managing Director said the positive feedback she got from the commission has inspired the management team to go back to align fully with the directive of the orders and mandate of NERC for the common good of the industry.
She said the team is ready to hit the ground running to deliver on its mandate.