Power Supply: Deregulation Is The Answer - Wya

ABUJA APRIL 20, (THEWILL) - Nigeria’s Minister of State for Power, Architect Nuhu Somo Wya has said that deregulation of the power sector was the most viable and economically realistic means of guaranteeing government’s desire for rapid and irreversible progress towards surmounting the many problems that have beset the nation’s public utilities.

The Minister spoke Monday at the opening ceremony of the 7^th Annual Conference and General Assembly of the African Forum for Utility Regulators (AFUR) hosted by the Nigerian Electricity Regulatory Commission (NERC) at the International Conference Centre, Abuja.

He said that Nigeria is facing challenges of imbalance between electricity supply and demand noting that problem needs to be tackled in a pragmatic manner that would ensure sustainable, adequate and reliable supply of electricity in the country, adding that the present administration has, as a matter of priority, put in place initiatives that will address power supply short falls within the shortest possible period.

According to the Minister, the present regime was poised to pursue the sector reforms in line with the provisions in the Electric Power Sector Reform (EPSR) Act, 2005, stressing that the objective of the power policy statement was to ensure that Nigeria has an Electricity supply Industry (ESI) that can meet the needs of its citizens in the 21^st Century.

This, according to him, is to be achieved through the policy goals of total liberalization, Competition, and private sector-led growth of the industry, insisting that the telecommunication sector has made a giant stride in the country as a result of deregulation and the power sector has no option but to follow suit.

He however charged the regulator, NERC, to ensure that the tariff regime is cost reflective and provides all the necessary regulatory frameworks such as Feed in tariff for renewable power, noting that NERC is pivotal to the overall development of the power sector.