Vice President Yemi Osinbajo has presented a discharge certificate to the Chairman of Transcorp Power Limited, the core investor in the Ughelli Power Plant, Tony Elumelu, declaring that only private sector investment in the sector would ensure steady supply as well as meet the demand of energy needs of Nigerians.
The certificate of discharge entails that the firm ‘has met the conditions stipulated in its agreement’ with the Federal Government as presented by the Bureau of Public Enterprises (BPE).
The recognition is coming a month after the National Council on Privatization (NPC) approved the BPE recommendations, and after Ughelli Power Plc. had met key post-acquisition requirements.
In his remarks, Elumelu revealed that the company’s indigenization plan has ensured that the Power Plant is managed and run by Nigerians alone.