NESG calls for implementation of NIPP

Sola Fadare, Lagos
President Umaru Yar’Adua

The Nigerian Economic Summit Group has called on the Federal Government to see to the resuscitation of the suspended National Integrated Power Project (NIPP) and find a way of reviewing the electricity pricing in order to enable power producers achieve cost mitigating revenue and encourage power supply in the country.

The Chairman of the Group, Mazi Sam. Ohuabunwa made the recommendation in Lagos on behalf of the economic think-tank group during an interactive session in Lagos.

Ohuabunwa said the most critical impediment to attracting private sector investment into power sector was electricity pricing, adding that the implementation of the Multi-Year-Tariff order, which allows for gradual price adjustment on incremental basis to avoid inflation is most necessary for effective business operations. Mazi said,

“There is also the need for the creation of an appropriate investment climate regulatory and institution to ensure availability of quantum private investment. It is the contention of the NESG that the suspended National; Integrated Power Project should be implemented to serve as a critical short term solution to the persistent power crisis”.

The Neimeth MD called on the Power Holding Company of Nigeria (PHCN) to wake up from its slumber by ensuring that tariff collection efficiency rise beyond the current 65 per cent to 90 per cent for efficient and sustainable operations, saying Nigerians would be willing to pay the appropriate price if power supply was consistent, reliable and of the right quality. He said the mobilization of foreign and domestic capital is necessary to complement government spending in the sector.

FG urged to set up nuclear power plant

Sola Fadare, Lagos

Grace Ekpiwhre,
Minister of Science and Tech.Efforts to revive the power situation in the country may be boosted if the Nigerian Atomic Energy Commission (NAEC) go ahead to float its planned Nuclear Power Plant Project (NPPP).

The Director General of the Commission, Dr. Erepamo Osaisai, gave the indication recently while receiving the new Minister of State for Science and Technology, Dr. Alhassan Zaku Bako, in the Commission’s headquarters in Abuja, saying the commission would require heavy financial outlay on the part of government.

While briefing the Minister on the activities of the Commission, Bako said it has been able to live up to the dreams of its founding father having laid a solid foundation for the country’s desire to participate in the global nuclear activities. He said further that the country needed to explore alternative sources of energy going by their growing demand so that the conventional sources could be complemented.

The DG observed that for a nation to brace up to its developmental challenges, it must identify the inherent handicaps in the process and design an appropriate strategy that would smoothen the process and that requires long term national commitment and sustain programme over gestation period of close to 20 years. According to him, requisite manpower training, proper planning, necessary implementable legal framework to redesign, in collaboration with the private sector acting as consultants are sine qua non to achieving success in the sector.

NAEC boss said further that for Nigeria to attain its Millennium Development Goals (MDG) in 2015, not less than 175,000 mega watts is required “ therefore Nigeria must be encouraged to run the NPPP in such a way that in the next 10 years, the country would be able to achieve its objectives. For now, not much progress is being recorded.

So we have to design the roadmap aimed at developing the appropriate strategy to deal with the situation.” The Minister, Dr. Alhassan Bako however warned the agency to make its existence felt through initiating people oriented programmes, adding that with the current administration’s policy on prudent management of resources, it was impossible to commit money where there would be no result and therefore charged the commission to live up to expectation.