The Transmission Company of Nigeria (TCN) has disclosed that it expended over N5 billion within the last five months to repair and replace vandalized electricity transmission infrastructure across the nation.
Executive Director of the Transmission Service Provider (TSP), Engr. Oluwagbenga Emmanuel Ajiboye, expressed dismay at the alarming rate of vandalism affecting the company’s operations.
Addressing General Managers during a recent two-day meeting held at TCN’s corporate headquarters on recently, Ajiboye highlighted the detrimental impact of frequent attacks on TCN’s assets.
He called for heightened vigilance from stakeholders and security agencies to safeguard electricity transmission facilities nationwide.
“Resources meant for other developmental projects have been redirected to address the aftermath of these vandalism incidents,” Ajiboye lamented, underscoring the financial strain caused by the need for constant repairs and replacements.
The Executive Director revealed that TCN management had engaged with the National Security Adviser, Nuhu Ribadu, seeking enhanced security measures and intervention to curb the vandalism menace effectively.
In the context of Nigeria’s deregulated electricity market, Ajiboye emphasised the strategic importance of such meetings among TCN’s leadership.
He stressed the need for innovative strategies to enhance performance and ensure sustainable operations amid competitive market dynamics.
“As the team that sets the tone for this organization, our goal is excellence. We must regularly convene to evaluate our performance and strategize.
“With a deregulated market, we’re essentially in a competitive business environment, and to remain viable, we need to think innovatively and stay afloat,” Ajiboye asserted.
Meanwhile, Mr. Chukwuka Ochijie, Executive Director of Finance and Account at TCN, acknowledged the financial challenges exacerbated by market infringements.
He urged General Managers to prioritize actionable solutions that mitigate losses and optimize resource allocation.
Ochijie said, “I encourage you to identify our unfinished projects, analyze 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.”
Despite funding constraints, Mrs. Afolabi Abiodun, Executive Director of Human Resources and Corporate Services, highlighted the successful completion of TCN’s 2024 promotion exercise.
She stressed management’s commitment to employee welfare and encouraged regional managers to foster constructive relationships with union representatives for effective issue resolution.
