By Aluta News
Aug 1, 2023
Experts in the electricity sector say they are set to review privatisation of the power sector by deliberating on the challenges and prospects in the last 10 years.
The experts will deliberate on the issue between Oct. 30 and Nov. 1, at the Nigeria Electricity Supply Industry (NESI) Market Participants and Stakeholders’ Roundtable (NMPSR) in Abuja.
The News Agency of Nigeria (NAN) reports that the power sector was privatised in 2013, with the distribution and generation sub-sectors split and sold to private owners.
Prof. Stephen Ogaji, the Chairman of the Organising Committee, at a news conference in Abuja on Tuesday, said that the event would be of immense importance and significance in power sector.
According to him, the event title, “NESI privatisation and its 10-year milestone: The Journey So Far, Opportunities and Prospects”, is the first of a biannual conference.
He said that the roundtable would provide a platform for a robust and comprehensive discussion of the issues and prospects associated with NESI.
“This first NMPSR event holds a special significance, as we come together not only to deliberate on the challenges and opportunities that lie ahead.
“ But to also acknowledge the journey of the NESI in the last 10-years, post-privatisation since Nov. 1, 2013 when the final leg of the privatisation of the power sector was completed, and assets were successfully handed over to private investors by the Federal Government”, he said.
Ogaji said that it had been a decade of ups and downs, resilience, dedication and collective effort from all stakeholders that brought the sector to its present form.
“ Not quite where we ought to be but making incremental progress toward the final objective of consistent and sufficient power supply.
“NMPSR serves as a testament to the spirit of collaboration that has driven this journey so far,” he said.
The chairman noted that the three days event was expected to join key market participants, stakeholders, government representatives, regulators, investors, and experts.
He said that the participants would diligently examine challenges and proffer solutions on the various aspects of the value chain-gas, generation, transmission, distribution, metering, finance and liquidity as well as renewables.
“It will also explore potential ramifications of the new Electricity Act, 2023. It is an occasion to acknowledge the milestones that have been achieved,” he said.
Ogaji said that the conference would be a platform for open dialogue where ideas would flow, experiences shared and partnerships forged.
He also said that the experts would explore strategies to overcome remaining challenges, enhance efficiency and ensure that the sector remained steadfast in its commitment to deliver 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 meet our responsibilities,” he said.
The chairman said that the conference would be the beginning of a new era of cooperation, progress and growth in the sector.
“Together, we can shape the
future of the power industry and create an environment that empowers economic development, enhances living standards and unlocks the nation’s true potential,” he said.
NAN reports that the aim of the privatisation was to enhance the power distribution.
Only the transmission component through the Transmission Company of Nigeria remained a public property since November 2013, when the Power Holding Company of Nigeria, successor companies, were handed over to their new owners. However, Nigerians have expected improved supply of electricity.