Experts seek policy on energy utilization

Timothy Choji, Abuja

The President of Nigerian Association for Energy Economics NAE, Professor Wumi Iledare, has tasked the Nigerian government on the need for a deliberate policy on the use energy for development.

Professor Iledare stated this while addressing State House Correspondents, after a courtesy visit of Nigeria’s Vice President, Professor Yemi Osinbajo, in Abuja.

“Energy development and utilization is an important ingredient that can be used to re-energize the Nigerian economy. We think the policies of the government should be geared towards using energy as input for economic development rather than as a source of revenue,” He said.

Commenting on the recent increase in electricity tariff, Professor Iledare said economic matters must be separated from politics.

“There must be an optimal tariff in Nigeria, in which the regulatory agencies will not set unless they do their homework. We must develop professionals, who will be able to properly handle some of these issues and properly determine the right tariff for electricity. The politicians cannot wish it, it has to be economically determined and must be such that will guarantee turn in investment, to be able to generate more electricity,” Professor Iledare explained.

Nigeria’s Vice President, Professor Yemi Osinbajo urged the experts in the energy, oil and gas sectors to contribute their expertise to enable the sector overcome all its challenges.

“It is strategic for professionals as well as members of the Energy Economics to always join in the energy debate and render their expert advice to government. President Buhari’s administration is transparent and open and this would also make government to be accountable,” the Vice President stated.