Power Sector And Other Related News Stories For Thursday October 26th 2023
Nigeria’s Prosperity Depends On Power Sector — British Envoy
The British High Commissioner to Nigeria, Richard Montgomery, has stressed the critical role of the power sector in Nigeria’s prosperity.
Montgomery stated this in his remark at a roundtable on the Electricity Act 2023 with theme, “Implications and Opportunities for State Electricity Markets” in Abuja on Wednesday.
The two-day event organised by the Nigeria Governors’ Forum (NGF) was funded by the Foreign Commonwealth Development Office (FCDO) and implemented by United Kingdom Nigeria Infrastructural Advisory Facility (UK- NIAF).
Montgomery, who was represented by Deputy British High Commissioner to Nigeria, Gill Atkinson, urged Nigeria to find ways to connect the dots between the power sector and inclusive growth.
Reps Probe $1.25 Billion Intervention Fund in Power Sector
The House of Representatives has resolved to probe all financial interventions by the federal government in the power sector in the past 10 years.
The investigation will cover over $1.25 billion injected into the sector by the federal government from 2013 till date.
This resolution to investigate the sector followed a motion moved by Ademorin Kuye (APC, Lagos) on Wednesday during plenary.
In the motion, Mr Kuye said the federal government made several financial interventions in the sector, yet Nigeria does not have an electricity supply.
Enugu Targets 690MW, 20-Hour Power Supply By 2030
Enugu State Government says it plans to transit from an energy poor state to a commercially viable electricity market generating over 690 megawatts of electricity and at least 20-hour per day power supply by 2030.
The government also says the urgency of the state in enacting the Enugu State Electricity Law to take immediate advantage of the 2023 constitution amendment and the Electricity Act 2023 to set-up a viable Enugu electricity market and reliable energy supply is in tandem with its economic growth plan to make Enugu State a leading industrial hub.
TUC Blames Nigeria’s Power Sector Woes On ‘Fraudulent Privatization’
Ten years after the privatization of Nigeria’s electricity sector, there has not been a significant progress in the nation’s power generation and distribution.
The Chairman, Trade Union Congress, Comrade Ben Asogwa, Enugu State branch.
In the view of the trade unionist, the process of the privatization was not transparent, hence the emergence of many companies that have no competence in the field.
He blamed politics and favoritism for the inability of the power sector to record any significant progress ten years after the unbundling.
He told our correspondent that, “Ten years after the privatization has been in the negative. Nigeria’s megawatts ten years ago were around 3,500 and we are presently having about 4, 000mgwts. So, there is no progress. They made us believe that every household will have electricity after the privatization.
States In Nigeria Explore On New Electricity Act
The Nigeria Electricity Act 2023, signed into law on June 9, 2023 by Nigeria’s President Bola Tinubu, has made a significant shift in the Nigerian electricity sector as State government moves to chat ways to tackle challenges in the new Electricity.
This was the highlight of the two-day round table dialogue amongst stakeholders to explore regional and International best practice to implement sub-national electricity markets from countries with relevant electricity market structures, in Abuja the nation’s capital, themed “Electricity Act 202: Implications and Opportunities for State Electricity Markets’’.
According to the Chairman, Nigeria’s Governor Forum, NGF AbdulRahman AbdulRazaq said the forum will continue to work together with Development Partners to implement the electricity Act in the country.
Bauchi Govt to Harness Electricity Act 2023 for Efficient, Affordable Power Sector
Bauchi State Government has expressed its resolve to leverage the Electricity Act 2023 in order to create an electricity sector that is efficient, affordable, and sustainable for the welfare and wellbeing of the citizenry.
The assertion was made by the State Governor, Sen Bala Abdulkadir Mohammed, on Wednesday in Abuja during the participation of Bauchi State at a roundtable on the subnational electricity market organised by the Nigeria Governors’ Forum and the United Kingdom’s Nigeria Infrastructure Advisory Facility held at the Transcorp Hilton Hotel, Abuja.