To achieve sustainable stable power supply, the Federal Government has been urged to restore investors’ confidence in the power sector by creating an environment that will encourage investors to invest, while ensuring the safety of their investments and profitability.
The Global Business Director, Future Energy Nigeria, Ade Yusuf, gave the advice in Lagos.
He said the recession or paucity of funds should not deter the government from encouraging investors to come into the sector.
According to him, Nigeria’s energy sector and economy have a bright future.
Yusuf, who spoke with The Nation in Lagos, said the exited recession should have motivated the government and industry operators to ensure that basic measures to stimulate economic growth were put in place, adding that reliable and affordable power supply would drive the expected growth.
He said the Nigerian Power Sector Recovery Programme was an important message to the world that there would be significant improvement in power, and the achievement of the desired economic change with a more diversified and inclusive economy.
According to him, sustainability of recovery programmes creates an important foundation to showcase the enormous business and investment opportunities that the sector provides.
He said: “I am excited about Nigeria’s energy future. Future Energy Nigeria initiative wants to boost government’s drive to achieve sustainable energy security for the populace. We all know that there is a lot of work to do. We have to restore investor confidence, showcase the myriad of opportunities in the sector; from gas to renewable, from generation to distribution and from building projects to providing specialised services, but there is need for us as stakeholders including the government to stand together and make it happen.”
Formerly West African Power Industry Convention (WAPIC), Future Energy Nigeria is supported by the Ministry of Power, Works and Housing, Transmission Company of Nigeria, Nigeria Electricity Regulatory Commission, Distribution Companies and prominent generation companies, among others.