Bayelsa Owes PHCN N2.2bn

The Port Harcourt Electricity Distribution Company, an arm of the Power Holding Company of  Nigeria (PHCN) says the Bayelsa State Government is indebted to it to the tune of N2.2 billion.

The Chief Executive Officer of the company, Engr. Fatai R. Onanuga who disclosed this while briefing members of the House of Representatives committee on power Friday in this office, said that apart from the Bayelsa State government some security agencies across the zone are indebted to the company.

Engr. Onanuga lamented the high rate of vandalisation of PHCN facilities in the zone as well as the dearth of competent skilled manpower in the zone and stressed the need for a legislation that will address the high rate of vandalism and energy theft in the zone.

The Chief Executive Officer who complained of poor funding as well as obsolete equipment and facilities said that the company planned to erect a transmission substation at Choba while efforts are on to acquire more land for substation and other projects.

Meanwhile, the House of Representatives committee on power has described privatisation as the key to the perennial problem of power in the country.

Chairman of the committee, Hon Patrick Ikhariale who said this during the committee’s visit to the Port Harcourt Distribution Company of Nigeria also allayed the fours of staff of the company and the entire PHCN that privatisation will lead to massive job loss.

Hon. Ikhariale said that the government is working out programmes that will lead to a smooth transfer of the Power Holding Company of Nigeria (PHCN) to private investor, noting however, that the emphasis will be on distribution and generation.

While stressing that the power sector is more critical to the economy, the chairman pointed out that the issue of job loss must be downplayed in the overall interest of the country.

He stressed the need for the Port Harcourt zone of the company to work out ways of improving its revenue base, noting that electricity consumption should not be seen as a social service by the people.