The Electricity industry headlines are menacing:
- “Generation capacity is grossly inadequate for the nation”
- “Transmission network is highly constrained and congested”
- “The distribution network is weak and overloaded”, “ATC&C losses too high”
- ” Nigeria crippled by power shortages”
The Q2 Power poll results released by NOIPolls yesterday (click link) revealed that Nigerians spend almost three times the cost of direct power supply from Power Distribution Companies (DISCOs) on alternative sources of power.
In spite of the successful sale of the generation and distribution assets to private investors, the situation of power has not experienced much transformation as 77.5% of Nigerians still purchase alternative sources of power for residential and business purposes.
Despite the additional financial burden of using alternative supplies, why are Nigerians unwilling to accede to tariff increment as stipulated by the Multi year Tariff Order (MYTO) to get better power? Why is there so much distrust within the industry? Why is there disharmony between the operators, the market and the regulators? What are the ways forward – how do we create a Power industry brand that will attract and retain requisite investors?
Tomorrow, at 09h00, Mr. Meka Olowola will join like Dr Shamsudeen Usman and the eminently erudite Dr.Noel Akpata, to present to the Vice President of the Federal Republic of Nigeria and industry pundits, the concept of a private sector driven coalition that will:
- expedite effective industry collaboration, mediation, synergies and identifying rooms for improvement
- advocate for sector-wide policy change and thought reorientation, and
- facilitate strategic investments to drive a holistic approach to value chain development of the electricity sector in Nigeria.