…Sack Of Former Minister Long Overdue-Stakeholders
By ABAH ADAH, Abuja
A consumer advocacy forum known as Nigeria Consumer Protection Network (NCPN) has urged the new Minister of the Power, Engr Abubakar Aliyu, to deliver on the reform programmes put on in place towards repositioning the sector.
The forum in a statement made public by its President, Kunle Olubiyo, attributed the quagmire still being experienced in the Nigerian Electricity Supply Industry (NESI) to inefficiency and maladministration witnessed by the sector in recent times.
According to the statement, stakeholders whose views were sampled on the recent revolutionary wind that blew through the sector, leading to the sack of the immediate past Minister of Power, Engr Sale Mamman, held that the sack was long over due considering the unprecedented wave of instability that had rocked the industry in recent times.
Electricity supply, in the country remains erratic, with daily power load-shedding lasting several days in most places in the country.
The statement urges the new Minister to see to the realisation of the objectives of the Presidential Power Initiative (PPI); upscale the visibility of the Ministry of Power in the Power Sector component of the Economics Sustainability Programme, Power Sector Recovery Programme; consolidate on the federal government’s efforts in closing the huge metering gap while also working towards narrowing down the wide liquidity gap.
While requesting that the Eligible Customer Regulatory Framework be reviewed in the interest of better and fair deal and enforce to the later, the statement maintained that “unbundling of the Transmission Company of Nigeria (TCN) into commercial, technical, and operational segments; inauguration of the Board of TCN as well as decentralisation of the Management of the transmission grid infrastructure” are key to the development of the sector.
“Mid Term Review of the 2013 Privatisation exercise, that was earlier scheduled for 5 years after ( 2018 ) now 8 years after ( Mid Term Review of the 2013 Power Privatisation exercise is no doubt long over due,” the statement noted, demanding declaration of
Post Transition Electricity Market, and recapitalisation of the Equity Stakeholding in the electricity sector with government expected to pull out while present owners Equity should be diluted to 30%.
“Upon the Recapitalisation and equity restructuring of the GenCos and DisCos which is expected to be listed and Quoted on floor of the Nigerian Stock Exchange & Capital Market, the New equity Stakeholding should be in the following order of 30% equity stakeholding for the present investors in generation and distribution Sub Sector, while the remaining 70% Equity Stakeholding should be spread amongst
member of the public , organised labour, NCPN further recommended.