The Head, Investment Supervision Department, National Pension Commission (PenCom), Ehimeme Ohioma, has said that for pension operators to invest part of the N5.9 trillion pension funds in the energy sector, there is the need for an adequate database of power users.
Presenting a paper on ‘Pension funds for economic development: Investing pension funds in infrastructure workshop’ in Calabar, the Cross River State capital, he said that the quest to attract pension funds to develop the nation’s power sector may be stalled by lack of data on power users and illegal connections.
He said the inability of power sector operators to develop a correct database of power users and the menace of illegal connections pose great challenges to investing pension funds in power. He said: “At present, there are many people using power without paying and such a situation would make the recovery of any fund in the sector difficult. Safeguarding pension fund remains a priority to PenCom and pension operators.”