Experts have stated that the country’s power sector has recorded some gains, despite the challenges confronting the sector.
They said this at the just-concluded Nigeria Power Sector Awards in Abuja.
The experts, including investors, consultants and government officials, identified increased generation capacity, establishment of a legal and regulatory framework, service-based tariffs, mini-grid regulations, meter asset provider regulations and the presidential power initiative in collaboration with Siemens as the gains of Nigeria’s electricity reforms.
Speaking at the event, the Special Adviser to the President on Power and Infrastructure, Ahmed Zakari, said the government has taken bold steps to address issues, which culminated in the sector increasing generation capacity to about 17,000 megawatts, MW, from about 13,000MW.
He said the feat would not have been achieved without much commitment from every stakeholder, stressing that teamwork would be required in moving the sector forward.
Similarly, the former Minister of Power, Prof. Bat Nnaji, said the main idea behind privatisation was to attract investors with technical and financial resources into developing privatised assets.
According to him, the government wanted companies that would have the technical and financial capacity to impact the sector.
“For instance, if the procured asset has the capacity to generate 900MW, but could only generate 200MW, we expect the investor to invest resources and increase the capacity to 900MW.
“We also expected the Electricity Distribution Companies, DisCos, to invest their resources targeted at building networks, distribution lines, and prepaid meters in order to enhance supply to consumers,” he added.
Also speaking, the Chairman of the Organising Committee, NPSA 2022, Odion Omonfoman, disclosed that DisCos have also executed innovative projects, targeted at improving supply to several communities.