According to Vice President Yemi Osinbajo, the only practical solution to Nigeria’s severe electricity problem is private sector participation. At a ceremony where Transcorp Power Plc was exempted from the Bureau of Public Enterprises’ (BPE) routine evaluation and monitoring, Osinbajo made this claim. The occasion, which was held in the Vice President’s office at the State House in Abuja, was a significant accomplishment for the business. Due to the delisting, Transcorp Power Plc is no longer under any post-privatization supervision because it has complied with the terms of the Post-Acquisition Plan (PAP) by the Bureau of Public Enterprises (BPE).
Tony Elumelu, the leader of Transcorp Power PLC, received commendation from Osinbajo for their outstanding performance in fulfilling and even exceeding the covenants and deliverables established in the Post Acquisition Plan (PAP). He urged the business to uphold its dedication to excellence and exhorted other private power firms to do the same.
Mr. Tony Elumelu, the chairman of the Transcorp Group, expressed gratitude to the federal government for their confidence in Transcorp Power Plc. He reaffirmed his company’s dedication to expanding Nigerians’ access to electricity and emphasized the role the power sector plays in the nation’s economic development. Elumelu also emphasized Transcorp Power Plc’s dedication to indigenization, noting that only Nigerians manage and run the power plant.
The Director-General of BPE, Alex Okoh, explained that the presentation of the certificate of discharge to Transcorp power limited was in recognition of the achievement of the performance targets stipulated in the performance agreement entered into by the company and the federal government upon the privatization of the power plant in 2013.