At power forum, stakeholders chart path to sector’s growth
Indeed, some of the operators who are billed to meet this week to discuss market updates and energy project financing opportunities believed that Nigeria’s power sector is positioning itself to leverage market opportunities.
The Managing Director and Chief Executive Officer of Niger Delta Power Holding Company, James Olotu, who is expected to give an address at the forum said:“Securing a credible and transparent electricity market is a panacea and stimulant to power generators and participants and therefore assures credible power supply. The current challenge is the complete unreliability and unpredictability of the settlement security and calls the capacity of the regulators and discos to question even where the tariffs become cost reflective.”
However, Deputy Managing Director of the Ibadan Electricity Distribution Company, John Ayodele, argued that the answers to the lack of predictability in the sector include embedded generation system.
General Manager of Power & Gas, Siemens Nigeria, Nasir Giwa, said: “We are pleased to see all power stake holders in Nigeria working hand in hand, including Siemens, and we continue to welcome the ongoing dialogue in a unified effort to light up Nigeria”.
Giwa, at the conference will discuss how every project must have a holistic approach to Independent Power Projects (IPP) development by working closely with all stakeholders beyond OEMs and EPCs to ensure the seamless and timely conclusion of proposed projects from concept to reality.
Meanwhile, industry leaders agreed that an improved approach to investment is paramount to building power reliability.
United Capital’s Deputy Group Chief Executive Officer and Managing Director of Investment Banking, Wale Shonibare who will chair Power Nigeria’s day two agenda, which focuses on financing the sector, believes now is an excellent time for Nigerian energy firms to rethink their financing.