Power: Sector Players Push for Greater Investments

Nextier Power Dialogue

Nigeria Electricity Hub convened its monthly power sector dialogue where key players discussed pragmatic ideas for developing Nigeria’s electricity market.

The initiative which is generated by Nextier Power durng the gathering which took place over the week said the aim of the monthly dialogue is to share knowledge, explore investment opportunities, generate ideas for policy formulation and network with stakeholders from the power sector and other related sectors.

The dialogue which served as a mini-stakeholder forum with participation from various government organizations, development agencies, policy consulting firms, power companies and individuals from related sectors.

Some of the organisations represented were the World Bank, Nigerian Economic Summit Group (NESG), Department for International Development (DFID), Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), Access Bank, Matrix Solicitors, EMRC Consultants, Kaduna Distribution Company, Abuja Electricity Distribution Company (AEDC), Nigerian Bulk Electricity Trading Company (NBET), Ministry of Power, Works and Housing, Nigeria Electricity Regulatory Commission (NERC), Niger-Delta Power Holding Company (NDPHC), Nigerian Electricity Management Services Agency (NEMSA), among others.

The speakers included Yusuf Suleiman (CEO, Blue Camel Ltd) whose opening presentation highlighted the benefits and financial implications of going completely off-grid. He used the Blue Camel Estate (A 100% Solar/Wind-Powered Estate in Guzape, Abuja) as case study.

Dr. Sanusi Ohiare, Senior Advisor, Nigerian Energy Support Programme-GIZ in his opening remarks defined what mini and micro grids are and highlighted the roles of mini and micro grids in solving Nigeria’s power supply problems.

To Ifeanyi Orajaka, who is the Founder and Chief Executive of GVE Projects, there is need to embark on financial strategies for developing mini and micro grid systems in Nigeria’s electricity market. He also highlighted the key criteria for a bankable project.

Engineer Faruk Yabo, Renewable Energy Expert and Assistant Director, Renewable Energy and Rural Power Access, Federal Ministry of Power spoke on the policies to promote investment in mini and micro grids in Nigeria.

He highlighted some global best practices in terms of policies and what the government of Nigeria is doing to promote investment in mini and micro grids. He also mentioned that the federal government of Nigeria has approved the National Renewable Energy strategy Plan which is critical in accelerating the growth of the off-grid market.

During the dynamic and interactive dialogue which was moderated by Patrick O. Okigbo, the Principal Partner, Nextier Advisory, the audience raised fundamental issues bothering on the ability to raise money for unlocking the mini and micro grids market, the framework for collection and ability of electricity consumers to pay, designated body responsible for securing the standards of power equipment brought into the country and access to funds to boost the renewable.

Other comments from participants included the availability of policies and data to the general public and the approach of making available data analysis online by associated renewable energy agencies.

Meanwhile, Nnanna Ude of the Nigerian Economic Summit Group (NESG) stated that the NESG has recommended the creation of a renewable energy round table which would be chaired by the Vice President in order to accelerate the development of the Nigerian renewable energy market.

Source: Swift Reporters

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