The Niger Delta Power Holding Company (NDPHC) has signed an agreement with Eko Electricity Distribution Company (EKEDC) for supply of 300 mega watts to Ibeju-Lekki.
Mrs Olufunke Nwankwo, Head, Communication and Public Relations, NDPHC disclosed this in a statement in Abuja on Friday.
Nwankwo said that the project would also supply power to other franchise areas in Lagos State.
She said that the agreement which was sealed in the presence of Lagos State Governor, Mr Babajide Sanwo-Olu, would see NDPHC supply electricity directly to Eko DisCo.
Speaking at the event, the Managing Director of NDPHC, Mr Chiedu Ugbo, said the agreement was part of the company’s strategies to source alternative means to sell and dispatch its stranded power.
Ugbo noted that the deal also allows the EKEDC to explore innovative ways to unlock investment in infrastructure for improved supply to its customers.
He pointed out that “the recognition of these complementary objectives has birthed the relationship between NDPHC and EKEDC that kicked off with the agreement.
“Our mutual objective is to work together to deliver the arrangement that will ensure safe, reliable and steady supply of power to customers in Ibeju-Lekki and other parts of EKEDC’s franchise area.
“This collaboration is significant considering the strategic importance of Lagos State as Nigeria’s commercial capital and host state for key industries in Nigeria.
“It is also for this reason that we are pleased to be signing this document in the presence of Mr Governor, who is himself a key member of NDPHC’s Board of Directors, and whose State, Lagos, is one of our shareholders.
“We believe that the collaboration will support the attainment of the infrastructure development and economic policies of the state government,” he said.
The NDPHC boss observed that the project was a milestone for both parties and would deliver significant benefits to the people.
“For EKEDC, the project will help to satisfy its customers with reliable power and achieve an enhancement in its network and infrastructure.
“For EKEDC’s customers, their homes and industries can now enjoy reliable 24hours power supply.
“For EKEDC’s investors and NDPHC’s shareholders – trustees of the Nigerian people – this project will deliver significant value,” he said.