From Fred Ezeh, Abuja
The Federal Government says it needs $10 billion Public-Private-Partnership investment in the power sector, in the next five to 10 years, to achieve 24 hours power supply.
The Minister of Power, Mr. Adebayo Adelabu, disclosed this when the Director-General, Infrastructure Concession Regulatory Commission (ICRC), Dr Jobson Ewalefoh visited him.
He said the government alone could not afford the 10 billion dollars, when there were other critical sectors in need of funding.
“Government cannot do it alone; this is why we have to look for organised private sector funding, while still retaining government interest and ownership.
“That is where ICRC comes in. We need to do this in collaboration with the private sector and the best way is through concession,’’ he said
Earlier, Ewalefoh said it had become imperative to seek private sector input through Public Private Partnership to improve the power sector.
He said in view of the importance of power to the economic development of the nation, optimising performance of existing infrastructure as well as funding new ones was imperative.
The ICRC boss said that the challenges in the sector were many and had gone beyond funding by the Federal Government alone.
According to him, with inter-agency collaboration and partnership with the private sector, the limitations could be addressed.
The D-G said that through its regulatory processes, the ICRC could midwife private sector investment to raise part of the 10 billion dollars needed in the sector to provide regular electricity.
The DG said that the commission was not relenting or compromising on its stringent regulatory function to forestall contingent liabilities or unnecessary delays by companies that lacked the requisite capacity.
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Federal Competition and Consumer Protection Commission (FCCPC) has asked the Ikeja and Eko Electricity Distribution Companies (IKEDC and EKEDC) to, immediately, cease all activities related to the planned replacement of Unistar meters.
It reminded the DisCos of an earlier directive in that regard, and the agreements reached with all parties on the matter, particularly as it concerns the welfare and protection of consumers against unnecessary exploitation.
Director, Corporate Affairs, FCCPC, Ondaje Ijagwu, in a statement, yesterday, said the Commission has received rumours of violation of the directives, stating that the FCCPC’s position remains clear and non-compliance with the directives by Ikeja and Eko DisCos will attract stiff penalties in line with the provisions of existing consumer protection laws.
“Contrary to recent rumours, the approval of new meter prices by the Nigerian Electricity Regulatory Commission (NERC) has no connection with the proposed replacement of Unistar meters by IKEDC and EKEDC. Beside, the planned replacement has been invalidated by both the FCCPC and NERC.
“But it is essential to clarify that Ikeja and Eko DisCos cannot proceed with the withdrawal or replacement of the Unistar meters unless they fully comply with NERC’s Order on Structured Replacement of Faulty and Obsolete End-user Customer Meters in the Nigerian Electricity Supply Industry (Order No. NERC/246/2021).
“The Order mandates that meter replacements must be prompt, without disrupting service, and at no cost to the consumer; and ensuring that consumers are not subjected to estimated billing due to delayed installations.”
He thus asked consumers to contact the FCCPC on the Commission’s dedicated channel of communication on electricity issues, should they encounter any attempts by Ikeja or Eko DisCos to disobey the directive.
He said the FCCPC remains unwavering in its commitment to safeguarding the rights of Nigerian consumers against unfair practices by service providers.
Source: Daily Sun
