- CFG purchases three-month gas stock upfront
Emmanuel Addeh in Abuja
The federal government Thursday said Nigerians would continue to enjoy better power supply during the current lockdown as a result of the COVID-19 pandemic, following its intervention in the payment of N220 billion for the supply of gas to the country’s electricity generation platforms.
The government disclosed that apart from settling all outstanding debts to gas suppliers, it had also paid at least three months upfront, thereby eliminating the challenges occasioned by the persistent shortage of the product.
Minister of Power, Mr. Sale Mamman, in a statement in Abuja, signed by his Special Adviser on Media, Aaron Artimas, said the breakthrough was achieved after he initiated another round of crucial talks with some major stakeholders in the power sector, describing the outcome as highly positive.
The minister said the latest resolution of the gas issues has pushed the nation’s power generation output to a “new historic level” after the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari, made the announcement on behalf of the federal government.
He said: “The meeting which was convened to discuss the worrisome and intractable problems of gas supply to the sector recorded a major breakthrough as the Managing Director of NNPC, Mr. Mele Kyari, announced the immediate approval of N220 billion for payments to companies supplying gas to the power sector.
“The amount was enough to off-set all outstanding debts including three months payment upfront. Mr. Kyari further promised that henceforth, NNPC will give particular attention to the supply of gas to the power sector to ensure better power supply to the country especially during this coronavirus lockdown.”
According to Mamman, who expressed delight at the feat, the latest generation figures exceeded all former ones with about 507.22MWH.
He added: “Following this development, for the first time ever, the country recorded a daily energy generation output of 111,591.83MWH of electricity, yesterday Wednesday, April 15, 2020. This historic record was about 507.22MWH more than any previous generation level.”