Nigeria Gets Darkness for N2.74trn Investment in Power Sector - Speaker - EazyFeeds

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Wednesday 8 February 2017

Nigeria Gets Darkness for N2.74trn Investment in Power Sector - Speaker

The Speaker of the House of Representatives, Hon Yakubu Dogara, yesterday disclosed that in 16 years, the federal government spent N2.74 trillion to attract more darkness than electricity in the power sector.
This is even as the Senate President, Bukola Saraki, lamented that the problems in the sector are man-made that do not require prayers.
Dogara, in his remark at the two-day stakeholders’ interactive dialogue/workshop on the sector held in Abuja noted that the sector has over the years been faced with many intimidating and daunting challenges.

Questioning the challenges facing the sector, Dogara said, “Perhaps, the most important question is what happened to the N2.74 trillion spent on the sector from 1999-2015. Why is it that the more we spend on the power sector, the more darkness we attract? Why are most of the companies licensed by Nigerian Electricity Regulatory Commission (NERC) not able to start their projects?
“Why has the FGN not embarked on energy conservation campaign that will emphasise the use of energy saving bulbs?”
The Speaker further noted that the challenges in the sector run across the entire power value chain of generation, transmission and distribution.
According to him, “The myriad of issues are apparently exacerbated by inadequate funding, poor energy mix, fuel supply issues, flawed regulatory framework, commercial issues, among others. There is, therefore, a need for concerted efforts by all stakeholders to address these myriad of problems.
“The objective of this workshop is to provide a platform for stakeholders to carry out a holistic diagnosis of the challenges impeding the development of the Nigerian Electricity Supply Industry (NESI) and proffer practical solutions.
“The diagnosis includes but not limited to a critical analysis of the extant legislations and regulatory framework guiding the Nigerian Power Sector to determine if there is a need for amendments or enactment of new laws that will galvanise the sector to deliver the required results.

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