Power Sector And Other Related News Stories For Monday January 15th 2024
Power Sector Privatization Only Changed Dimensions of Challenges — Expert
A renowned expert in the power sector, Engr Isa Musa, has said that the privatization of the sector only changed the dimensions of the challenges in the sector of the economy.
He pointed this out in a paper titled ‘Indepth Analysis of Challenges and Professional Solutions to the Stunted Growth of Nigeria’s Power Sector’ he delivered recently.
According to him, “it is evident that the privatization model used by the government was full of erroneous assumptions.
“For example, that there would be revenue-sufficient tariffs, stable transmission infrastructure, an efficient bulk trader, government institutions would pay their electricity bills, and the distribution companies would be financially viable.”
FG Expresses Concern over Incessant Attacks on Power Assets
The federal government has expressed worry over the frequent destruction of electricity assets nationwide, stressing that it was in the process of making a new law to tackle the menace.Speaking at the inauguration of a 300KWp Solar PV pilot project in Kainji, Niger State, the Minister of Power, Mr Adebayo Adelabu, reiterated that the destruction of some power towers around the country had been reported to the National Security Adviser (NSA) in order to strengthen security around the power infrastructure.
A statement in Abuja by the Special Adviser, Strategic Communication and Media Relations to the Minister, Bolaji Tunji, stressed that Adelabu again emphasised the need for Nigerians and the different communities where the facilities are located to protect them.“It is of no use to expend so much energy in providing power facilities if the delivery channel is weak, that is why the ministry is concentrating on improvement of the transmission and distribution capacity.
Why Energy Sector Looks Good to Energise Economy
The oil and gas sector is widely acknowledged as economy’s life wire, from a balance of payment and external sector perspectives. For instance, the sector accounts for over 90 per cent of Nigeria’s foreign exchange earnings.
Yet, the sector, which by natural default, is laden with generating the highest revenue to finance the country’s budget, is also one that eats deep into government coffers, chalking off revenue which hitherto would have passed for greater investments in other critical sectors.
However, on the strength of a number of reforms and regulatory interventions, one of which was the Petroleum Industry Act (PIA) 2021, industry operators and experts are convinced that the sector’s outlook for 2024 is promising.
https://thenationonlineng.net/why-energy-sector-looks-good-to-energise-economy/
Nigeria’s Government Concerned Over Destruction of Power Assets, Considers Legislation
Nigeria’s federal government is expressing deep concern over the repeated destruction of electricity assets across the nation, hinting at the possibility of new legislation to address the issue. This was brought to light by the Minister of Power, Mr. Adebayo Adelabu, during the inauguration of a 300KWp Solar PV pilot project in Kainji, Niger State.
Security Concerns and Strengthened Measures
Adelabu reported these incidents to the National Security Adviser in a bid to ramp up security around power infrastructure. He also called on communities to play their part in protecting these essential facilities. The minister made it clear that the Ministry of Power is steadfastly focused on bolstering transmission and distribution capacity.
FG Expresses Concern over Incessant Attacks on Power Assets
The federal government has expressed worry over the frequent destruction of electricity assets nationwide, stressing that it was in the process of making a new law to tackle the menace.Speaking at the inauguration of a 300KWp Solar PV pilot project in Kainji, Niger State, the Minister of Power, Mr Adebayo Adelabu, reiterated that the destruction of some power towers around the country had been reported to the National Security Adviser (NSA) in order to strengthen security around the power infrastructure.A statement in Abuja by the Special Adviser, Strategic Communication and Media Relations to the Minister, Bolaji Tunji, stressed that Adelabu again emphasised the need for Nigerians and the different communities where the facilities are located to protect them.“It is of no use to expend so much energy in providing power facilities if the delivery channel is weak, that is why the ministry is concentrating on improvement of the transmission and distribution capacity.
