Arewa Think Tank has commended President/CEO of Geometric Power Plant Aba, Prof. Barth Nnaji, and former governor of Abia state, Sen. Orji Uzor Kalu, for their efforts in establishing the plant to generate electricity for Aba and environs.
While calling on professionals in the north to emulate GPP in building similar power plant in the North, the group lauded the National Security Adviser (NSA), Malam Nuhu Ribadu, for detaining Binance executives for their alleged complicity in economic crimes against Nigeria through alleged aiding and funding terrorism, money laundering, tax evasion, currency speculation and other organised crimes.
The 188MW Geometric Power Plant, was started 20 years ago to supply Aba metropolis and eight neighbouring Abia local governments with electricity.
Sen. Kalu, while he was governor of Abia state, granted a waiver to the company to ease the investment and played critical roles in bringing the plant to fruition.
“We have been following progressive events in this country, and we consider it appropriate to appreciate the efforts of former Governor Orji Uzor Kalu, who gave the initial waivers to Geometric Power Plant, thereby reducing risk of the transaction.
“We are sure that if those waivers were not in place, no investor would have taken the risk to invest in such gigantic power generating business. We want to commend Prof. Nnaji, the proponent of Geometric Power, Aba who resigned as Minister of Power during the Jonathan administration because of lack of technical expertise in the privatisation process. Nnaji had insisted that all DISCOs must have technical expertise and financial independence to operate, to weed out those who wanted to use privatisation to make quick money.
“We noted that after he left, many of the DISCOs eventually failed due to lack of technical expertise, and the banks they borrowed money from took over the assets. It is commendable that unlike other power companies, the power generated by Geometric Power would not go to the national grid, but go to Aba and eight other in Abia state as a start.
“We call on other leaders and similar professionals, especially in Northern Nigeria to emulate this progressive project in the South-east for the betterment of the north and the people,” the statement said.
Speaking on Ribadu’s efforts to boost the naira and safeguard the economy, Arewa Think Tank said, “we want to commend the bold move by Malam Nuhu Ribadu to detain the Binance executives and demand.,Hom unidentified sources. This has sent a strong í to the cryptocurrency world that Nigeria will not tolerate any financial misconduct that threatens its national security and unity.”
