Osogbo—Worried by the slow progress made in the power sector, the minister for Power, Works and Housing, Mr. Babatunde Fashola, has charged all stakeholders in power sector to adhere strictly to all conditions in their contract with federal government or face dire consequences.
This is just as the Transmission Company of Nigeria, TCN, at 14th monthly meeting of Power Stakeholders Forum held yesterday at National Control Centre, NCC, Osogbo, restated its commitment to expand transmission infrastructure and improve its operation and performance within the power sector value chain.
Addressing the gathering, Mr. Fashola said all investors in the power sector were aware of opportunities and challenges before entering into agreement with federal government and investing in the sector, stressing that the present administration is prepared to implement to the letters, all conditions stipulated in the contracts, signed with it by investors in the sector.
On government’s part, he assured investors in the sector of the commitment of the federal government towards provision of conducive environment that will enhance their businesses. Fashola, who said efforts are on to facilitate more payment of debt owed power distributors by federal government, noted that operations in power sector is largely in the hands of private operators and must be made to fulfil their mandate to Nigerians.
Reading the communiqué of the meeting attended by leadership of Nigerian Electricity Regulatory Commission, NERC, and Transmission Company of Nigeria, TCN, representatives of the generation companies, Gencos and distribution companies, Discos, Prof. Frank Okafor, said the meeting highlighted the issue of un-utilized load, and encouraged the industry to take necessary steps to address the problem.
The communiqué reads in parts: “The Managing Director, Transmission Company of Nigeria, highlighted the issue of un-utilised load, currently causing high system frequency on the national grid, and encouraged the industry to take necessary steps to address the problem. TCN restated its commitment to expand transmission infrastructure and improve its operation and performance within the power sector value chain.
“The Vice Chairman, Nigerian Electricity Regulatory Commission affirmed the Federal Government’s expressed commitment to tariffs that ensure a self-sustaining power sector and to supporting NERC in applying sanctions where appropriate to ensure operators comply with the rules. “NERC highlighted the recently reconstituted commission’s focus on fair but firm regulation in the following areas: enforcing DisCo metering commitments, prepaid meters for MDAs, centralised management of market revenues collected from all customers, appropriate capitalisation of DisCos, and prudent procurement. “It urged electricity customers to play their role in the success of the industry, through the timely payment of bills, ending the vandalism of power assets, and the assault of electricity workers who seek to install or read meters.”