Adelabu said all efforts must be geared towards propelling
the country to the league of productive nations, adding that Nigeria is looking
at reserves that would eliminate incessant power collapses.
He said the federal government is also considering the
liberalisation of the power sector.
“We also encourage the state government to invest in power
generation in their states,” the minister said.
Adelabu said Abia is one of the states that has invested in
power, disclosing that the federal executive council (FEC) has also granted
Ekiti and Enugu the right to generate tariffs — meaning that the states would
be responsible for power generation, transmission, supply, trading, and system
operations.
The minister also expressed concern that a lot of investors
did not come with their private equity, saying they had to borrow money from
the bank to operate in the sector.
He, however, said with time, investors would be made to
operate the right way for the benefit of the sector.
The politician also said the federal government is planning
on deepening rural electrification in collaboration with the state governments.
‘OVER 100 POWER PROJECTS IN NIGERIA UNCOMPLETED’
On electricity projects, Adelabu said there are over 100
uncompleted power projects across the country.
He said the projects would not be energy-efficient without
being completed.
Also speaking, Kola Adeshina, the group managing director of
Sahara Power Group, expressed regret that Nigeria cannot supply electricity
efficiently despite its abundant gas resources.
He said if electricity was not a priority in the budget
provision, it would be difficult for the country to work, stressing that
Nigeria has the resources to double its power generation.
“If the executive brings an appropriation bill before you
(lawmakers) and the power sector is not number two after defence, then don’t
allow it,” Adeshina said.
Adeshina urged the government to prioritise industrial areas
in power distribution.
“After the industrial areas have had light during the day,
we can shift power at night to residential areas because production takes place
during the day,” he said.
“Let’s sequence our
investment along the line of value-added. Nigerians are resilient, we are
strong, and we have tenacity. Nigerians are tired of power collapse.”
On April 22, the minister had said the federal government
would sell off five electricity distribution companies (DisCos) under the
management of banks and Asset Management Corporation of Nigeria (AMCON) in the
next three months to technical power operators.
He also said the ministry would prevail on the Nigerian
Electricity Regulatory Commission (NERC) to revoke underperforming licenses and
change the management board of the DisCos — if it becomes the solution.
