Power Sector And Other Related News Stories For Tuesday November 21st 2023
Governor Eno Tasks FG On Power Sector Deregulation
Governor of Akwa Ibom State, Umo Eno, has highlighted the importance of power as key driver of the nation’s economy and stressed the need for the deregulation of the sector towards effective participation of sub nationals in energy management and distribution.
He, therefore, expressed the readiness of his administration to partner with the federal government for enhanced power sector infrastructure and improved supply in the state and the country in general.
Governor Eno made this known during interaction with a joint delegation of the Senate Committee on Power and members of the Nigerian Electricity Regulatory Commission (NERC) on a courtesy call to him at Government House, Uyo, the state capital at the weekend.
Nigeria’s Tax Incentives Will Spur Investment in Energy Sector
Despite government efforts to enhance efficiency and attract investment in the Nigerian energy sector through privatization, energy supply has fallen short due to aging assets, grid mismanagement, and financial issues.
Investment in the sector has failed to generate anticipated returns, as electricity distribution and generating companies were heavily leveraged to service loans granted by financial institutions, leading to lenders taking over many Nigerian distribution companies.
A renewed focus on the power sector would contribute to a significant increase in Nigeria’s gross domestic product and economic development. The current administration is therefore striving to establish a functional system by fostering productivity across all sectors.
Fixing of Meter Prices Affecting Manufacturing Firms’ Viability
In this interview, the Chairman, MOMASS Electricity Meters Manufacturing Company (MEMMCOL), Dr Kola Balogun, speaks on sundry issues impacting the electricity supply industry. He maintains that fixing the prices of meters is negatively impacting the viability of manufacturing firms in the sector. Emmanuel Addeh brings the excerpts.
Ikeja Electric Unveils TID Rollover for Enhanced Customer Experience
The Ikeja Electricity Distribution Company (IKEDC) has announced the commencement of Token Identification (TID) rollover in its commitment to provide exceptional services to customers.
The IE, in a statement signed by its Head, Corporate Communications, Kingsley Okotie, said the move was a seamless solution to initiate TID rollover aimed at enhancing the functionality of the meters and ensuring a satisfactory experience for customers in compliance with the global software upgrade.
MEANWHILE, customers of IKEDC are facing severe difficulties in loading their prepaid meters due to challenges related to linking their National Identification Number (NIN).
Tinubu Seeks Siemens Investments In Nigerian Power, Rail Sectors
President Bola Tinubu, on the sidelines of the G20 Compact with Africa Economic Conference on Monday, met with German Federal Chancellor, Olaf Scholz, where he noted that Nigeria’s determined pursuit of German investment in targeted sectors of the Nigerian economy was focused on critical growth-enabling industries in energy, transportation, and electric power production, transmission, and distribution.
Recognising the success of Siemens AG in positively transforming the quantity and quality of Egyptian electric power supply, the President in a statement by Presidential spokesman, Ajuri Ngelale, on Monday, noted that under his leadership.
Nigerians Benefit From Chinese Solar
Monday Wisdom needs regular power for his metal workshop in Sokoto city, north-west Nigeria. But, unable to rely on the public grid, he depends on a diesel generator, at significant personal expense, pollution and noise.
“I spend no less than 4,000 naira (about US$5) to purchase diesel on a daily basis,” he says. “What’s more, I still have to pay the power distributor’s bill for what I didn’t consume at the end of month.”
Regular power failures in the state mean that many of his colleagues in the welding profession have resorted to taking up less-skilled jobs like bricklaying for survival, he said.