TCN spends N2.5bn to clear abandoned equipment at ports

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The Transmission Company of Nigeria said it recently spent about N2.5bn to clear some power transmission equipment worth several billions of naira abandoned by different contractors at the nation’s seaports, The Punch reports.

According to the TCN, many contractors handling various power projects in the past had abandoned a lot of transmission equipment at the ports for no justifiable reason. The Interim Managing Director, TCN, Usman Mohammed, stated that the N2.5bn was spent in clearing the abandoned equipment from the ports in the last 10 months.

He said after investigations by his team, it was observed that billions of naira worth of transmission equipment was abandoned by contractors at Nigerian ports. The TCN boss stated that his team also found out that power transmission projects were among the highest number of abandoned contracts across the country.