FG Plans to Restructure Electricity Management Agencies for Efficiency

2nd Chartered Institute of Stock Brokers CIS Nat Workshop .

Minister of Power, Prof. Chinedu Nebo, has disclosed plans to bring key agencies and companies with responsibilities over power supply and equipment management under one roof to ensure efficiency and quality electricity supply.
Nebo explained that Nigeria’s NBET, which was conceived as a stop-gap agency while the sector was in transition might need to consider as a body that will outlast the current proposition,” adding that “with the new thinking, NBET can be structured on a Public Private Partnership (PPP) model that is permanent in nature, as electricity is always an ongoing concern.”
Speaking when he received the visiting Indian power delegation in Abuja, the minister stated that Nigeria’s power sector, which is now in transitional stage, will soon summon a stakeholders’ forum of all Discos, Gencos, the regulator – NERC, NEMLCO and NBET, with a view to taking another look at India’s model, which he described as workable.
He formally invited the Indian delegation to the first-ever National Council on Power, which has been scheduled for August 2014, cautioning the Indians on the projected figure for the nation’s generation capacity, saying that Nigeria will hit 10,000MW by the end of 2015.

Speaking on behalf of other distribution companies, the CEO of Eko Disco, Mr. Oladele Amoda, said that since 2002 India has kept faith with transformation of its power sector, saying this informed Eko Disco’s technical arrangement with Tata of India.
He said component activities of the company on demand management side, information and communication tools, captive power metering, to mention but a few, adding that the target of Eko Disco is to accomplish in five years what took India 10 years to do.
He enjoined the India delegation to take seriously the issue of transfer of technology, insisting that Nigeria’s NBET (aka) Bulk Traders needs local content input to fast track the development of its power market.
Amoda said it was on record that the Indian model has helped Nigeria to transform its power sector, just as he acknowledged the model has changed the sector in a phenomenal way.
Earlier, the Indian High Commissioner, A. R. Ghenashyam, said that Nigeria as the hub of economic activities in the sub-region and the continent should take the lead in the development of regional power market.
He assured that in no distant future Nigeria will not only develop a robust electricity market for its domestic uses but also become a big player in the regional power centre.
He said over 400 per cent leap in generation capacity in the last 10 years has been made possible because of the competitiveness of the market, adding that countries like Nepal, Bangladesh, Bhutan and Pakistan are already enjoying from seamless cross-border market, which has further boosted confidence and credibility for investment flow into the power sector.

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