By SUNDAY ABBA, Abuja
The Institute of Chartered Accountants of Nigeria, ICAN, and the Nigerian Society of Engineers, NSE, have pledged their support for the Minister of Power, Chief Adebayo Adelabu, on the ongoing power sector reforms aimed at providing affordable, clean, and uninterrupted power supply in the country.
Both made the pledges during their separate visits to the Minister, according to a statement made available to a statement made AljazirahNigeria at the weekend.
Speaking during the visit , President of ICAN, Mr Innocent Okwuosa, who also came to intimate the Minister about the upcoming 53rd Conference of ICAN begining on Monday, noted the myriad of challenges facing the power sector over the years which have hindered the ability to provide reliable and affordable electricity to citizens and businesses.
He enumerated some of the challenges to include: power generation and transmission that are far below national requirements, leading to frequent power outages and load- shedding and outdated transmission and distribution networks.
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Okwuosa also cited low capital investment in the sector, shortage of power generating inputs, illegal connection, vandalism and theft of electricity infrastructure, non-payment of electricity bills by Ministries , Departments and Agencies, MDAs, among others.
He however said these problems are surmountable considering the antecedent and the track record of the new Minister.
To address these challenges, Okwuosa said ministry requires a comprehensive and sustained effort from both the public and private sectors, adding, “It is essential to create a conducive environment for investment and establish clear policies, with recognition and focus on the power sector as the driver of economic growth”.
The ICAN president who said the Institute was willing to sign an MOU with the Ministry, disclosed that ICAN has a working group referred to as the ICAN Technical Committee on Power Sector, whose objective is to support government in achieving the objective of affordable and clean energy as well as efficiency in the operation of the power sector in the country.
“One of the ways chartered accountants can support the ministry is through financial assessments of the financial viability of sustainable energy projects such as renewable energy investment or energy efficient technologies”, he said.
In his own remarks, President of the Nigerian Society of Engineers, Engineer Gidari-Wudil promised that the society will put all expertise and operational arsenal at its disposal to help the Ministry achieve its mandate.
Gidari-Wudil who led a delegation of NSE, including the incoming President of the World Society of Engineers to the Ministry, outlined some critical expectations of the organisation.
He said, power is the bedrock of manufacturing and for Nigeria to survive as a country, there is need to support local manufacturers otherwise Nigeria will continue to be a consumer nation.
The Minister in his separate responses Adelabu stressed the need for comprehensive, national inclusive development for the country rather than developing in silos.
“It involves policies and initiatives aimed at reducing income inequality, providing equal access to opportunities, and improving the overall well being of all citizens, regardless of their socioeconomic background, gender, ethnicity, or other factors,” he said.