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Nigeria considers energy reforms to boost investment
- 13 years ago (2011-10-07)
- Junior Isles
Dr. Sam Amadi, Chairman of Nigeria Electricity Regulatory Commission (NERC), has expressed his regrets that despite considerable efforts to increase generation, the country has only been able to achieve a capacity of 4000 MW, when it actually needs over 20 000 MW.
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The NERC boss, who spoke at a ‘power consumer assembly’ also stressed that the ongoing reform in the power sector would indeed make electricity more available, accessible, and affordable to every Nigerian consumer.
He advised electricity consumers to “conserve energy” and “ensure proper utilisation of available supply to avoid waste”.
“It is mandatory on us to handle the demand end of the electricity supply chain more efficiently as this is the trend worldwide even where capacity is not an issue,” he said.
Justifying the electricity reform, the NERC boss said it was aimed at fostering a welcoming environment for would-be investors in the energy sector.
“We cannot make progress if we continue to charge the tariff we have been charging since 1955; government has been bearing the burden before now; the tariff must be reviewed to enable competition. If the price is so low, no investor will come and invest in the sector.”
He assured, though, that the commission has designed various means to protect the interest of members of the public while attracting investment.