From Isaac Anumihe, Abuja
The Federal Government may have spent an estimated N3 trillion in direct intervention to save the nation’s power sector from total collapse since the sector was privatised in 2013.
This revelation came from the Nigeria Electricity Supply Industry (NESI) Market Participants and Stakeholders Roundtable (NMPSR), which held yesterday in Abuja.
Worried by this humongous amount spent on interventions without a incommensurate performance of the sector, the stakeholders, under the auspices of NMPSR are proposing a conference between October 30, 2023 and November 1, 2023 to address the myriads of problems bedevilling the power sector.
Addressing newsmen in Abuja, ahead of the conference, Chairman, Organising Committee of the conference, Professor Stephen Ogaji, said that the three-day event is expected to bring together key market participants, stakeholders, government representatives, regulators, investors, and experts to diligently examine challenges, and proffer solutions on the various aspects of the value chain including gas, generation, transmission, distribution, metering, finance/liquidity, renewables, as well as explore potential ramifications of the new Electricity Act, 2023.
“It is an occasion to acknowledge the milestones that have been achieved, while addressing the work that lies ahead to further strengthen the sector.
“This conference will be a platform for open dialogue, where ideas will flow, experiences will be shared, and partnerships will be forged. Together, we will explore strategies to overcome remaining challenges, enhance efficiency, and ensure that we remain steadfast in our commitment to delivering quality electricity supply services to Nigerians.
“As we recognise the milestone of a decade of privatisation of NESI, we must also acknowledge the role of the Nigerian people. Their resilience and understanding during this period has been invaluable, and it is their support that has driven us to focus on our responsibilities” he said.
According to him, the inaugural roundtable event, titled: “NESI privatisation and its 10-year Milestone: The Journey So Far, Opportunities And Prospects,” is the first of what we hope to be a bi-annual conference that provides a platform for a robust and comprehensive discussion of the issues and prospects associated with the Nigerian Electricity Supply Industry (NESI).
“My hope and expectation, as Chairman, is that NMPSR will serve as a catalyst for positive change in the sector. We envision this conference as the beginning of a new era of co-operation, progress, and growth in the sector. Together, we can shape the future of Nigeria’s power industry and create an environment that empowers economic development, enhance living standards, and unlocks the nation’s true potential,” Ogaji, explained.