Power Sector And Other Related News Stories For Wednesday August 2nd 2023
Direct Interventions in Power Sector Hit N7tn – FG
The Federal Government, on Tuesday, said it had spent about N7tn as direct interventions in the power sector despite privatising the electricity generation and distribution arms of the industry since November 2013.
It revealed this at a briefing in Abuja to announce the forthcoming Nigeria Electricity Supply Industry Market Participants and Stakeholders Roundtable.
The N7tn, it explained, did not include interventions from international donors.
This was disclosed by the Transmission Company of Nigeria.
Electricity Sector in Focus as Supply Stays Below 4,000MW, 10 Years After Privatisation
Stakeholders in Abuja, yesterday, expressed concern over the state of the power sector in Nigeria, lamenting that about 10 years after privatisation of the electricity industry, supply to end users has remained below 4,000 megawatts.
To address the poor state of the industry, amid clamour for increase in electricity tariff, the stakeholders, who cut across the industry, said there was a need to convene a roundtable to review key issues bedeviling the sector.
With plan to host the Nigerian Electricity Supply Industry (NESI) Market Participants and Stakeholder Roundtable, Mr. Edward Eje, who is the Market Operator, Transmission Company of Nigeria (TCN), said the electricity market in Nigeria has not exceeded invoices of 4,000 megawatts since it was privatised, urging industry players to end blame games and find a leeway.
Nigeria’s Power Challenges Will be Over in 7 Years – El- Rufai
Nigeria’s power challenges will be over within the next seven years with the implementation of the vision, plans and programmes of the President Tinubu’s government, Nasir El-Rufai, the ministerial nominee from Kaduna state said at his Senate screening.
El-Rufai, the former governor tapped by Tinubu to solve Nigeria’s power challenges had been involved in the sector long enough to know where all the bones are buried. He was a former director general of the Bureau of Public Enterprise and drafted the rules for Nigeria’s power sector privatisation as well as an early draft of what became the Petroleum Industry Act (PIA).
Tinubu’s Power Reforms Target Six DisCos’ Ownership, Management
The ownership and management structure of at least six indebted electricity distribution companies (DisCos) would be changed in new reforms planned for the power sector, says Nasir El-Rufai, the ministerial nominee from Kaduna tipped to lead the Energy Ministry.
El-Rufai, the former governor of Kaduna, tapped by President Bola Tinubu to solve Nigeria’s power challenges, had been involved in the sector long enough to know where all the bones are buried.
The former director general of the Bureau of Public Enterprise said he was involved in drafting the rules for the country’s power sector privatisation and an early draft of what became the Petroleum Industry Act.
How FG Spent Over N3trn Direct Intervention to Save Power Sector From Collapsing
Following the sorry situation of the power industry in Nigeria, the federal government has so far spent over N3 trillion in direct intervention since the sector was privatised.
This revelation was made manifest by the Nigeria Electricity Supply Industry (NESI) Market Participants and Stakeholders Roundtable (NMPSR), yesterday, in Abuja.
Disturbed by the amount of interventions and the incommensurate performance of the sector, the stakeholders, under the auspices of NMPSR have proposed a conference between October 30, 2023 and November 1, 2023, to address the myriads of problems bedevilling the power sector.
Every Household Should Have Meter – El-Rufai Proposes Stringent Measures for Electricity Sector
Former Governor of Kaduna State, Nasir El-Rufai, has proposed stringent measures in the electricity sector to help boost the sector.
El-Rufai, a ministerial nominee, said the measure would include a hardline stance against those that bypass metering in the country.
He made this known on Tuesday during the screening of ministerial nominees submitted to the Senate by President Bola Tinubu on Thursday last week.