Stakeholders recommend state of emergency in power sector
By Innocent Obasi
Stakeholders in Nigeria’s power sector have called on the incoming administration in 2023 to declare a state of emergency in the country’s power sector in order to bring a lasting solution to the lingering crisis of inadequate power supply.
This recommendation was made at the 13th edition of PwC’s Annual Power & Utilities roundtable on the theme; ‘Setting a New Power Agenda Post-2023 Elections’.
During the panel discussion session, the industry players based across various sectors of the power value chain – from transmission and distribution to generation and renewable energy operators – offered perspectives on policies required to solve the recurring challenges in the sector.
They expressed concern that political actors often have bold ambitions that influence legislation but are not always in line with the practical reality of the industry.
This misalignment, they observed, hampers a sustainable and stable electric power supply in the country.
The participants in the roundtable agreed that a stakeholders conference should be organised by the new government that will emerge after the elections in 2023 in order to formally address the electric power crisis in Nigeria.
Speaking at the event, Pedro Omontuemhen, energy, industry Leader and partner,PwC Nigeria, said: “Irrespective of your political affiliation, we can all agree that electric power is critical to our development as a nation. But there are several perspectives on the key solutions and policies that Nigeria should pursue to solve the crisis in the power sector.
He also emphasised the need for all stakeholders and the incoming government to dimension the challenges and agree on the key policies to implement, noting that it is an urgent step that must be implemented to deliver a sustainable and stable electric power supply in Nigeria.
In his keynote titled, ‘How to solve Nigeria’s energy problem,’ Sam Amadi, the former ceo of Nigeria Electricity Regulatory Commission (NERC), suggested a number of solutions, which included the restructuring of the Transmission Company of Nigeria (TCN), the formation of a presidential task force to promote reforms in the power sector, the restructuring of Niger Delta Power Holding Company (NDPHC) to release its 4000 Megawatts of generating capacity , and invitations to local and international developers to sign new Power Purchase Agreement (PPA) for 800 Megawatts of solar and wind energy in Lagos, PH, and Warri by 2025.
On his part,Alex Okoh, the director general of the Bureau of Public Enterprises, said that some ongoing changes aimed at the GENCOs have been successful and should continue. He noted that the privatisation and listing of GENCOs on the stock exchange is currently attracting favourable attention from the public which he described as an independent test of the viability of that business.