Fashola inaugurates 115mw gas turbine in Delta

MINISTER of Power, Works and Housing, Babatunde Fashola, has inaugurated a 115 megawatts gas turbine 15 (GT 15) at the Transcorp Power Company, Ughelli in Delta State.

He charged stakeholders in the oil-rich Niger Delta region to ensure the sustenance of the relative peace currently being enjoyed in the region.

Fashola, at the inauguration, assured local investors in the power sector that he would resolve challenges confronting them as well as the payment of money to power generation companies promptly.

According to the minister, the current administration is willing to support local investors who are putting their resources into the power sector.

He observed that local investors were more dependable as they would endure with the country at all circumstances.

“While we are looking for foreign investors, the President Muhammadu Buhari administration understands that the local investor is the most dependable investor.

“The local investor is not going to run when the ship hits stormy waters and it is their continuity and commitment to continue to invest that really dignifies the Nigerian economy.

“To the Transcorp groups and other local investors, the Buhari administration heard you loud and clear.We are dealing with the challenges of solving the issues that you face one after the other. One of them as you have referred to is the payment assurance scheme that has now been put in place. The power that you now produced will be paid for every day you put it on the grid.

“That is what that funding is for. You have acknowledged the appointment of a new managing director of TCN, it is because we know that when you produce the power, unless we want to lose it, it must quickly transport it and that the reason TCN is being reformed.

“We understand also that you need a lot of collaboration down the line until we get to the DISCOs. That is why NEC has been reconstituted,” he stated.