A former Nigerian Diplomat and Scholar, Ambassador Godknows Igali, has advised the incoming administration of President-Elect, Senator Bola Tinubu to refocus Government’s investment in the electric power sector.
He said it would aid sustainable development of the energy sector in the economic interest of Nigeria.
In a presentation at the Ist Memorial Lecture Series in honour of late Joseph Makonju, Nigeria’s iconic energy expert, organised by the federal University, Lokoja, Dr. Igali, noted that the current Power Sector Recovery Programme of the Muhammadu Buhari led administration has achieved over five thousand megawatts of electricity for Nigeria.
He stressed the need for consolidation on the achievement by the next administration because according to him, the Buhari’s milestone in the power sector creates room for sustainable improvement of Nigeria’s energy sector.
“None is in doubt that the reform of the sector was well intended at ensuring a well-developed National Power Sector Industry. However, it is common knowledge that improvements in service delivery have been lacklustre and have been unable to meet the expected targets. The implication of insufficient power according to the World Bank is a gross economic loss of about $26 billion (over N10 trillion every year). The reasons for these are complex and unyielding.
“These include:
i. serious payment issues;
ii. unimpressive regulator of the sector;
iii. low level of capital infusion; and
iv. limited energy mix.
“For a population of the size of Nigeria, the proper development of its power sector is critical to the country’s march into a rightful standing as one of the leading economies of the world. At a Gross Domestic Product (GDP) of about $500 billion, Nigeria is already the leading economy in Africa. However, this could be well bolstered if the country would be able to get its power sector right and bring to conclusion the sector reforms. These include the Power Sector Policy, 2001, the EPSR Act of 2005, the Power Sector Reform Road Map of 2010 and the current Power Sector Recovery Program of the Muhammadu Buhari led administration.
“Although power generation reached a peak of 5,075 megawatts, this was at best a spike and no substantial progress has been made beyond that,” he explained.
He further stated further that “Going forward, a number of things will need to be critically examined and worked on.
” Most fundamental is the overall supervisory and regulatory environment.
“In the new privatized environment, as it is in the rest of the world, Federal Minister of Power is expected under the regulation of the Heads of State to provide robust policy guidance and supervision in the sector.
Without interfering in anyway in day to day activities, this responsibility has to be carried out with greater thoroughness.”
Ambassador Igali, advised the incoming administration to ensure strict policy guidance in implementation of Nigeria’s power sector recovery program initiated by the Buhari administration to revive the energy system.
“The Presidential Action Committee on Power (PACP) was setup to hold high level meetings of all stake holders personally chaired by Mr. President at scheduled intervals “weekly, bi-weekly and monthly.
“This problem solving and decision making platform, needs to be revived. There was also the Presidential Task Force on Power (PTFP) which was a full time adhoc agency, bringing together young talented Nigerians both from within and diaspora to daily brainstorm on performance strategies and targets in the sector.
“This body considered an Ombudsman that helped the sector to experience the growth which occurred was disbanded, thereby creating a gaping vacuum.
“Recently the current administration working together with development partners has come up with what is called Central Data Management System (CDMS). This tool is expected to aid the Federal Ministry of Power and other market participants, both public and private, monitor the infrastructure across the value chain and also weigh in on their performance.” he explained
He charged the Nigerian electricity regulatory commission (NERC) to weigh in with a more robust regulatory framework and come up with a new paradigm for attracting investments.
He also stressed the need to balance the interest of consumers and putting in place a cost reflective tariff.
Makoju brought his knowledge of Science and Technology to drive every industry that he had worked and led with crystal positive results.
The Vice Chancellor of federal University, Lokoja, Professor Olayemi Akinwumi, expressed delight with the partnership between the University and Joseph Makonju Foundation, which culminated in the overall success of the Memorial Lecture on the topic: “Challenges of the Electric Power Sector Reform In Nigeria: The Way Forward”, as delivered by Amb. Igali.
The VC says, “The University’s partnership with the Joseph Oyeyani Makoju Foundation for Development, Leadership and Technology which was unveiled on 16thof July 2022 has given birth to the institution of this memorial lecture which will now be held annually going forward; where eminent scholars and industry players will deliver lecture to contribute to solving Nigeria’s leadership, development and power problem.
“As Chinua Achebe noted, the trouble with Nigeria is squarely the failure of leadership which has created several other problems.
“Hence, addressing this problem from an intellectual angle through intrinsic and intensive memorial lecture in honour of Engr. Joseph Makoju is not out of place in the University’s efforts to fulfill her town and gown obligations.
“There is no doubt that power sector has contributed immensely to dearth of development in Nigeria. Engr. Joseph Makoju’s passion for power reforms in Nigeria was second to none. No wonder, he dedicated his entire life to power generation and reformation in Nigeria,” VC Akinwumi added.
Confidence Okwuchi
