COMMUNIQUE ISSUED AT THE END OF THE 2019 ANNUAL BUSINESS LUNCHEON OF THE NIGERIAN SOCIETY OF ENGINEERS, IKEJA BRANCH HELD ON APRIL 11, 2019 AT SHERATON HOTELS, IKEJA, LAGOS
The Nigerian Society of Engineers (NSE), Ikeja Branch, held her 2019 Annual Business Luncheon on Thursday, April 11, 2019 at Sheraton Lagos Hotel. The theme of this year’s Luncheon is “Dynamism in the Power Sector: Opportunities and Challenges”. The theme was structured into two sections – Technical and Investment – each dealt with by separate renowned Lead Speakers.
After exhaustive discussions by the Lead Speakers, Panelists and various interactive inputs and questions, the following recommendations were made:
Technical Issues of the Dynamism in the Power Sector:
It is clear that power generation is still grossly inadequate in Nigeria. Hence the FG must create an enabling environment for investors to come in, while also engaging the right persons with relevant expertise.
- Power audit of the load requirements of the populace is very critical for achieving efficiency in the power sector.
- As load demand is projected to increase on yearly basis, all stakeholders must bring on board an energy mix that can meet up with the demand.
- Infrastructure upgrade must be deployed to ensure that as much power that is generated is transmitted, and distributed. The issue of load rejection by the Discos should come to an immediate end!
- A review of the privatization plan is urgently needed in order to avert the imminent conflict between the Discos and the FG or the Consumers.
- The Government should come up with a road map and adequate planning on how to meet the energy demand for even the next 25 years.
- Discos should attend to the complains of consumers by the immediate stoppage of estimated billings. All consumers should be metered.
- Discos should deploy technologies that can support maintenance without power disruption.
Investment Opportunities in the Power Sector
- The fact that the FG owns as much as 40% of all the Discos, among other factors, calls for more commitment on the part of Government in boosting investors’ confidence.
- The Government policies must allow for stable and cost effective tariff.
- All stakeholders should look towards localizing the sources of power in order to limit the problems associated with long transmission.
- Rule of law and the sanctity of contracts must be held to high esteem by all stakeholders in order to further boost the investors’ confidence.
- Investors should consider the ease of trading between Nigeria and other ECOWAS countries as well as the Western countries, as a great advantage and reasons to invest in the Power Sector.
- Both local and foreign investors should see the high population of Nigeria as a great market and demand for power consumption.
- Discos should as a matter of urgency ensure that all power consumers are metered in order to reduce the huge power theft, and equally eliminate the issues associated with estimated billings.
- Discos should invest in proper consumer enumeration in order to increase the data base of true power consumers.
- The Government and Discos should invest in the reorientation of citizens on the need to stop power theft and vandalization of power infrastructure.
- Discos should also train and reoriented their staff to stop aiding all kinds of power theft.
Engr. Funmi Akingbagbohun, MNSE, FNIMechE
Chairman, NSE Ikeja Branch