By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Digital Payments Reshaping Nigeria’s Power Sector, Says Transcorp Power CEO
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
Energy & Oil

Digital Payments Reshaping Nigeria’s Power Sector, Says Transcorp Power CEO

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: July 7, 2023
Share
3 Min Read
Transcorp Power CEO, Christopher Ezeafulukwe
Transcorp Power CEO, Christopher Ezeafulukwe
SHARE

Christopher Ezeafulukwe, the Managing Director and CEO of Transcorp Power Ltd has highlighted the transformative power of digital payments in Nigeria’s power sector.

Speaking on Thursday at the Power & Water Nigeria Exhibition & Conference in a panel discussion titled “The Evolving Industry Landscape to Manage Liquidity and Boost Secured Digital Payments”, Ezeafulukwe stressed that the proliferation of digital payments in the sector is helping to improve liquidity and address consumer concerns.

Explaining the power value chain, the Transcorp Power CEO explained that the flow of electricity starts with Generation Companies (Gencos) selling electricity to the Nigerian Bulk Electricity Trading Plc (NBET), which then sells it to Distribution Companies (Discos).

“Digital payment solutions have facilitated smoother transactions and improved liquidity,” Ezeafulukwe said.

- Advertisement -

He also highlighted the positive impact of digital platforms in reducing Aggregated Technical Commercial and Collection (ATC&C) losses, improving efficiency, and reaching unbanked areas.

“Additionally, digital payment platforms facilitate timely payments and reduce losses in the distribution network. However, challenges persist, including the need for increased awareness, customer enlightenment, and consumer cooperation,” Ezeafulukwe stated.

Regarding metering challenges, the Transcorp Power MD/CEO acknowledged that proper enumeration is essential for effective metering. With accurate enumeration, distribution companies can plan better, determine the appropriate number and types of meters, and enhance collection.

He stressed the importance of consumer cooperation in making the metering system work, as some consumers resist metering due to electricity theft or underpayment.

- Advertisement -

Ezeafulukwe, however, commended the progress made in metering and collection through digital channels, with some distribution companies now receiving over 90% of collections through digital platforms.

He emphasized the need for continued investment, customer enlightenment, and incentives to further promote digital payment adoption and efficient metering.

“Digital payments bring numerous benefits to the power sector. They offer convenience, reliability, and accountability for consumers, allowing them to pay for what they consume and manage their resources more efficiently,” Ezeafulukwe said, adding that energy-efficient appliances and devices are encouraged for cost and energy saving.

He stressed that with a collective commitment from all stakeholders, Nigeria’s power sector can continue to leverage digital payments for a more efficient and sustainable future.

Transcorp Power Limited, the power subsidiary of Transnational Corporation Plc (Transcorp Group), is a leading player in the Nigerian power sector, committed to delivering reliable and efficient electricity supply to the nation.

With a focus on innovation, sustainability, and customer satisfaction, Transcorp Power continues to drive positive change in the Nigerian energy landscape.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:Christopher EzeafulukweTranscorp Power Plc
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Edwin van der Sar Ex-United Goalkeeper Edwin van der Sar Hospitalized for Brain Bleed
Next Article Ejikeme Mmesoma Mmesoma Confesses to Manipulating JAMB Result, Panel Recommends Apology and Counseling

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Parallel Market Rates

Okay.ng Logo
USD
Buy₦1,555.00
Sell₦1,568.00
GBP
Buy₦1,770.00
Sell₦1,800.00
EUR
Buy₦2,140.00
Sell₦2,175.00

Updated: 7 hours ago

Displayed rates are for informational purposes only and are subject to change.

Quick Converter

0.00
ShareShareShare

Rates are for informational purposes only.

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

INEC Releases New Guidelines on Election Result Reviews, Confirms 122 Applications for New Political Parties
News
NEPC Debunks Promotion Exam Allegations, Says Process Adheres to Civil Service Rules
News
9mobile Subscribers to Access MTN Network Under New Three-Year Deal
Telcos
Peter Rufai
Peter Rufai, Legendary Super Eagles Goalkeeper, Is Dead
Sport
David Mark, Atiku’s Coalition Efforts Not Reflective of PDP’s Official Stance, Party Clarifies
Politics
- Advertisement -
Ad imageAd image

You May Also Like

Peter Obi
Politics

Labour Party Demands Peter Obi’s Resignation Within 48 Hours

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 3, 2025
Politics

Seven Akwa Ibom House of Representatives Members Defect to APC

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
July 3, 2025
Business

Black Market Exchange Rate: Dollar to Naira – Today – 3rd July 2025

Okay.ng
Okay.ng
July 3, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?