Experts chart path to energy recovery
05 December 2017 |
11:47 pm
Industry experts have recently proffered practical solutions to end the lingering power challenges in Nigeria, citing embedded power, cost effective tariff, and full privatisation of power plants and a host of others as the way forward. The experts, who gave their submissions in Lagos at the PwC’s Annual Power and Utilities Roundtable, noted that…
PHOTO: en.wikipedia.org
Industry experts have recently proffered practical solutions to end the lingering power challenges in Nigeria, citing embedded power, cost effective tariff, and full privatisation of power plants and a host of others as the way forward.
The experts, who gave their submissions in Lagos at the PwC’s Annual Power and Utilities Roundtable, noted that among other challenges in the sector like metering bad debt, settlement dynamics, the power recovery programme is in crisis.
Some of them, who supported the full privatisation of the Transmission Company of Nigeria (TCN), also maintained the total privatisation of the remaining power plants nationwide as well as full privatisation of the restructured Nigerian gas company.
In his keynote address, the Lagos State Commissioner for Energy and Mineral Resources, Olawale Oluwo, said to ensure the success of the power recovery programme articulated by Federal Government advisors, and the World Bank, there is a need for a credible, sustainable and realistic roadmap that can deliver effectively to unlock opportunities.
Oluwo, who recommended the full implementation of cost effective tariffs in major cities like Lagos, Kano, and Port Harcourt that have large power consumers, said there is no point putting everybody together and waiting for the next five years before there can be headway.
He further observed that over time, what is gotten from these major power consumers would be used to subsidise other states that are not in a position to embrace cost effective tariff.
“The economy of Lagos supports the implementation of cost reflective tariffs, and if we start it in state, it would be easy for us to push it further to other parts of the country,” he added.
Speaking on the theme, “The Pathway to Recovery,” the commissioner said Lagos is key to the success of the power sector recovery programme, because it is the major consumer of power in the country, and with its imbedded power programme in the pipeline “we would become the net exporter of power in Nigeria.”
Related
Latest
2 hours ago
Tanzania has shut down five hydroelectric stations to reduce excess electricity in the national grid, the prime minister Kassim Majaliwa has said. According to Majaliwa, the main plant, Mwalimu Nyerere Hydroelectric Station, has alone generated enough electricity to power major cities. Among the cities that are being powered is Dar es Salaam, the country’s commercial…
2 hours ago
Everton secured their first win in a Merseyside derby at Goodison Park since 2010 to leave Liverpool's Premier League title aspirations in ruins after a 2-0 defeat on Wednesday.
2 hours ago
KPMG has announced the cancellation of job offers to some foreign graduates in the United Kingdom (UK). KPMG took this step following the decision of the UK government to tighten visa rules for overseas workers in a bid to cut record immigration. The Financial Times reports that one of the UK’s biggest graduate employers, the…
2 hours ago
Kano State governor, Abba Kabir Yusuf, is in the United States of America for a high-powered symposium organised by U.S. Institute of Peace (USIP). The three days conference being attended by governors of Kano, Katsina, Zamfara, Kaduna, Niger, Sokoto, Kebbi, Jigawa and Plateau states, is designed to address insecurity in Northern Nigeria and proffer better…
2 hours ago
Sir Chikwe Udensi, a security consultant with the International Criminal Police Organization (INTERPOL), has urged Abia State governor, Dr Alex Otti, not to mix his good works with some falsehood when passing information to the people. Udensi, a chieftain of the All Progressives Grand Alliance (APGA), said that he is disturbed at the way the…
3 hours ago
The Kaduna State House of Assembly Ad-Hoc Committee has set up a committee to investigate the administration of former Governor Nasir El-Rufai. The committee, established during the Assembly's sitting on April 16th, has requested a comprehensive set of documents from the state commissioner of finance. The probe will include details of all loans acquired during…
3 hours ago
Football teams that have registered for the much anticipated Alimosho Football Coaches Council Under-16 League have been warned to desist from all sorts of football unprofessionalism that can bring the league and football into disrepute. According to the leader of Alimosho Football Coaches Council, Mr. Samuel Uchenna Eke: "We want to do better than last…
5 hours ago
Hearing in two separate money laundering suits filed by the Economic and Financial Crimes Commission (EFCC) against British national, James Nolan, could not proceed on Wednesday at a Federal High Court, Abuja.
6 hours ago
Iranian goalkeeper Hossein Hosseini has been banned by the Iranian Football federation for Hugging a female fan after a football game. The goalkeeper was banned and fined of approximately #6.2Million for his actions which is against the country's policy as far as both genders are concerned. The incident unfolded when a female supporter's hijab slipped,…
×
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.
0 Comments
We will review and take appropriate action.