Vandalism of 117 power towers costs N12.8b, threatens $7b loan

  • 📰 GuardianNigeria
  • ⏱ Reading Time:
  • 105 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 45%
  • Publisher: 94%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

The Transmission Company of Nigeria (TCN) has kept mum over allegations of insider threats and collusions in the routine vandalisation of the country’s electricity transmission network, which has in two years cost N12.8 billion to fix.

The Transmission Company of Nigeria has kept mum over allegations of insider threats and collusions in the routine vandalisation of the country’s electricity transmission network, which has in two years cost N12.8 billion to fix.The Transmission Company of Nigeria has kept mum over allegations of insider threats and collusions in the routine vandalisation of the country’s electricity transmission network, which has in two years cost N12.8 billion to fix.

Stakeholders are concerned that vandalism is rising at a time of economic crisis, worsening power supply that has slumped to about 3,000MW, and yet unsettled loans on transmission infrastructure. On March 1, when The Guardian contacted her again, she responded with a text that she was “not well”. On average, four to five towers have been vandalised monthly in the last 26 months, an indication that the vandalism of high-tension towers, usually avoided in the past as a high risk, is now a thriving business.

The company, in February, reported the vandalism and destruction of two of its transmission towers, T377 and T378, along the Gombe–Damaturu 330kV transmission line. “The activities of vandals have aggravated the issues in the already troubled sector battling with poor performances of the market participants and acute illiquidity. Most of the projects in transmission were funded by borrowed funds that the FG has not paid back.

“Therefore, there must be a ban on open market sales of some electrical products. The government must make it impossible for anyone to buy and sell transmission or distribution lines, and the practice of individuals and communities buying poles and wires must stop,” Elatuyi said. Danbatta noted that working with law enforcement and local communities is of the utmost importance in fighting vandalism, adding that engaging community leaders, raising awareness of the significance of maintaining transmission infrastructure, and promoting information sharing on suspicious activities could all help to secure assets.

“Hardly can this vandalisation succeed without the hands of skilled individuals who allegedly are mostly serving or retired personnel of TCN and its organs. Lamenting over the worsening security issues in the country, Kunle said security and safety architecture of Nigeria is under pressure, therefore, TCN is not an exception.

According to him, it does not matter whether the punishment will serve as a deterrent or not, people found culpable must be severely dealt with using the law.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in LOANS

Loans Loans Latest News, Loans Loans Headlines