Nigeria has unfortunately either by omission or commission remained in darkness even when it possesses the potentials to be the energy (electricity) hub of
The new political era of the APC-led administration tagged with the slogan ‘‘Era of Renewed Hope’ under His Excellency, Asiwaju Bola Ahmed Tinubu, the elected 16th executive president of the Federal Republic of Nigeria, presents another opportunity to demonstrate a strong political will to tackle head on Nigeria’s ailing power sector challenges, anticipates Falana.
He said, there should also be assurances that the project promoters / Independent Power Providers will be able to open and maintain foreign currency accounts in any financial institution within or outside Nigeria and that tariff and concession regimes permitting recovery of actual project costs and a reasonable return on capital shall remain in full force and effect and shall be adjusted only to the extent necessary to guarantee the project sponsors no less than the agreed upon return on...
Also, Tinubu’s government has to provide assurances that the energy power project sponsors will be free to expand its operations and business in areas related to the project as and when such new opportunities are open to the private sector and indemnification by the Federal Government for any loss sustained by any project participant by reason of the invalidity or unenforceability of any provision of any agreement, permit, instrument or other document executed or delivered by any...
He said, one of the structures to be clearly made away with is the Presidential Power Initiative, which at best, should function as a desk in the ministry of Power, who should handle such bilateral relationships with companies like the Siemens. Keeping such “agency” like the PPI is just increasing our overhead unnecessarily, duplicating tasks and command chains, and asking questions of the professionals in the Ministry of Power.
He also opined that unless the issue of Metering is resolved, the country would continue to experience stunted growth in the power sector.
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