Vice President, Yemi Osinbajo unveils Afam Power Plant in Rivers

Vice President, Osinbajo unveils Afam Power Plant in Rivers
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The Vice President of Nigeria, Prof. Yemi Osinbajo has officially launched the Afam 3 Fast Power 240-megawatt turbine plant in Oyigbo LGA of Rivers State.Vice President, Osinbajo unveils Afam Power Plant in Rivers

According to Hitvibz, the initiative is a division of the Transcorp Group, which has offices in Oyigbo, a town outside of Port Harcourt, the state.

Osinbajo, who arrived at the location in a helicopter at precisely 11:35 a.m., was led inside and welcomed by Tony Elumelu, Chairman of Transcorp Group, and other dignitaries.

Following the commissioning of Transafam Power Limited’s 240MW Afam Three Fast Power plant in Afam, Rivers State, with an already existing power plant residing in Afam, this brings the cumulative generating capacity of the plant to 1,000MW.

In his remark, Osinbajo said;

In 2020, electricity subsidies reached N584 billion, but service- based tariffs have led to a doubling of collection in the Nigeria Electricity Supply Industry from N40 billion in 2020 to N80 billion in the first quarter of 2023.”

The VP claims that if things keep going in this direction, the Nigerian electricity supply industry will be able to support itself.Vice President, Osinbajo unveils Afam Power Plant in Rivers

He mentioned that the administration of President Buhari has developed off-grid electrification schemes as well. The Rural Electrification Agency can now deliver electricity on a first-class basis.

We are on track to electrify all Nigerians in the next decade. However, we will not make progress if our gas supply does not improve. The gas supply challenges are hampering improvements.” – he said.

According to information obtained by Hitvibz, the Federal Government has chosen Transcorp Group as the most desirable bidder to buy Abuja Electricity Distribution Company.

The National Council on Privatization facilitated the approval.

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