Tony Elumelu, a renowned Nigerian economist and the Chairman of Transcorp Power Limited, has revealed that the Ughelli power plant is entirely managed by Nigerians.

Elumelu made the statement during the presentation of the discharge certificate of Ughelli power plant by Vice President Yemi Osinbajo at the National Council on Privatization (NPC) meeting on Monday.

The Ughelli power plant, which is a gas-fired thermal plant with a capacity of 972 MW, has been privatized since 2013, and one of the key targets set for Transcorp was to maintain a minimum available capacity of 670 MW.

Elumelu explained that Transcorp Power Plc is undergoing a strong indigenization process, which ensures that the power plant is solely operated and managed by Nigerians.

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He further expressed his pride in the fact that Transcorp Group recognizes the importance of increased access to electricity in Nigeria.

He noted that with improved access to electricity, businesses can operate effectively, hospitals can function optimally, and people can receive an education, all of which are essential for the country’s industrialization.

Elumelu also highlighted that Transcorp Power Limited continues to invest in the power sector because they recognize its importance in unlocking the country’s success.

He emphasized that the power sector holds the key to the country’s success and can enable Nigeria to reach its full potential.