The Transmission Company of Nigeria (TCN) reported an expenditure of 5 billion Nigerian Naira in the first five months of 2024 for the repair and replacement of equipment damaged by acts of vandalism.
Oluwagbenga Ajiboye, the Executive Director of Transmission
Service Provider (TSP) in TCN, strongly condemned the recurring incidents of
vandalism targeting electricity transmission infrastructure across the nation.
“He revealed that the company has spent over N5 billion to
repair or replace damaged equipment in the last five months,” excerpts of news from the TCN’s website
showed.
During a two-day meeting with all General Managers in TSP at
the corporate headquarters, the Executive Director (ED) emphasized the urgent
need for relevant stakeholders and security agencies to intensify their efforts
In safeguarding electricity assets nationwide.
Expressing regret over the diversion of resources allocated
for developmental projects to address vandalized equipment, the ED reassured
the audience that management is actively working to resolve the issue.
He mentioned a crucial meeting with the National Security
Adviser (NSA), Nuhu Ribadu, to seek his support and intervention in this
matter.
Ajiboye highlighted the significance of the meeting in the
context of the deregulated electricity market, where General Managers, as key
stakeholders in TCN, must collaborate to explore avenues for enhancing TCN’s
performance.
Furthermore, the Executive Director of Finance and Accounts,
Mr. Chukwuka Ochijie, implored participants to redirect their attention away
from the challenges and instead provide practical and actionable solutions that
can propel the company forward.
He emphasized that funding posed a substantial challenge for
the company and urged participants to concentrate on finding solutions rather
than dwelling on the issues.
“I encourage you to
identify our unfinished projects, analyse the causes of delays, and provide
recommendations for prompt action. Although funding has always been a
challenge, and it’s even more severe now, management has consistently worked
diligently to secure resources and address our most pressing needs,” he said.