No Investments Made in 30 Years Before Power Privatisation – Amoda


The Managing Director of Eko Electricity Plc, Mr Oladele Amoda, at the electricity customers’ forum organised by his firm in Lagos, said that there was no visible investment in the power sector 30 years before selling the assets of the defunct Power Holding Company of Nigeria (PHCN) to the private sector.

He also said 70 per cent of the assets were in dilapidated form when the assets were sold in 2013, adding that investors had actually spurred the growth of the sector hitherto in spite of the liquidity challenge. He said his company was desirous of giving its best to the customers with a view to satisfying them and providing value addition services.

Amoda added that the company had in the last three years metered a substantial number of its customers. He said it had also placed an order for five hundred transformers in order to ensure steady supply of electricity to customers during the Yuletide.

Source: EnergyMix

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