Nigeria’s privatization agency, the Bureau of Public Enterprises (BPE) has assured the House of Representatives’ committee on Privatisation and Commercialisation on the capacity of the Power Sector Recovery Programme (PSRP) to tackle the lingering liquidity issues in the power sector.
“PSRP is robust enough to ensure viability of the power sector and manage the liquidity issues militating against the sector,” Alex Okoh, the director general of the agency affirmed at a meeting with the House Committee on Privatisation and Commercialisation Tuesday.
He however added that optimising the potentials of the PSRP would be largely reliant on a simultaneous effort from all parties involved in the privatisation process as well as regulatory bodies.
The meeting was specifically called for stakeholders to proffer solutions to the challenges affecting the performance of the electricity generation and distribution companies.
Okoh noted that the Nigerian power privatisation transaction was the biggest of its kind in the entire continent and that post transaction challenges were inevitable. Nevertheless, he expressed optimism that the challenges would be surmounted.
He stressed that only a holistic approach would set the pace for an enduring solution to resolve the challenges.
He categorising the challenges under three bands – transaction frame work, operational issues, and policy and regulatory concerns, adding that solutions proffered without a thorough diagnosis of the issues would fall through in the course of time. He reaffirmed the Bureau’s dedication to the success of the sector towards ensuring improved electricity supply to the nation.
Shadimu Alao Mutiu, the deputy chairman of the committee, gave an assurance of the committee’s support towards the success of the sector adding that only a joint effort can bring about the much needed progress sought by all parties involved.
Present at the meeting were representatives of the electricity companies as well as Nigerian Bulk Electricity Trading Plc. (NBET).