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Incoming administration in 2023 have been told to declare a state of emergency in the power sector to solve the lingering crisis of inadequate supply.
This consensus emerged at the 13th edition of PwC’s Annual Power & Utilities Roundtable themed: ‘Setting a new power agenda post-2023 elections’.
During the session’s panel discussion, it was observed that stakeholders across Nigeria’s power sector value chain spanning transmission, distribution, generation and renewable energy operators, have different perspectives on the policies required to solve the challenges in the sector.
It was also observed that political actors often have bold ambitions that drive policymaking but sometimes were not consistent with the pragmatic realities in the industry, a misalignment that hampers a collaborative approach towards solutions.
However, stakeholders at the roundtable agreed on the need to formally recognise the electric power crisis in Nigeria and for the new government post-2023 elections to convene a stakeholders summit.
Pedro Omontuemhen, partner and energy, utilities and resources industry leader, 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. So there’s a need for all stakeholders and the incoming government to dimension the challenges and agree on the key policies to implement. This alignment is urgent if the incoming government is to deliver a sustainable and stable electric power supply in Nigeria.”
Power sector experts and stakeholders who attended the event included the keynote speaker, Dr. Sam Amadi, former CEO of Nigerian Electricity Regulatory Commission while the panellists were Mr Alex Okoh, director-general, Bureau of Public Enterprises; Mr Edu Okeke, MD, Azura Power West Africa Limited; Ms Lande Abudu, Component Lead, Standalone Solar Home Systems (SHS), Nigeria Electrification Project (REA) and Dr U.G Mohammed, Former MD, Transmission Company of Nigeria (TCN).
In his keynote address, ‘How to solve Nigeria’s energy problem’, Amadi set the tone for the panel session. He reviewed the power sector policies of the presidential candidates of the three leading political parties.
