Louis Edozien, Permanent Secretary, Ministry of Power, disclosed that immense investment opportunities to deepen the development of the power sector still abound despite visible achievements recorded so far. He said this at the 5th Nigeria International Power Expo and Conference in Abuja, with the theme: Private Sector Partnership in Achieving Sustainability of Power Supply in Nigeria. According to him this administration has shown singular leadership and initiatives in ensuring that Nigeria leapfrogs in its quest to achieving its dream of becoming one of the best economies in the world by the year 2020.
Edozien listed the achievements recorded and the defining future trend within the context of the new private sector led power initiatives, these include the establishment and implementation of a Renewable Energy and Energy Conservation Policy, embedded with coal to power, the ongoing reform of the ministry is to equip it with the right competitiveness and capacity to handle policy issues as well as ensuring conducive and enabling environment for investment in power. He added that governments agenda in the future is the divestment by the Niger Delta Power Holding Company (NDPHC) assets in the National Integrated Power Projects (NIPPs).
The permanent secretary also said that government would assist the Transmission Company of Nigerian (TCN) in accessing long-term expansion funds, including the proposed Transmission Development Fund, and other international development funds from banks and multilateral agencies, noting that these funding matrixes will ensure a reliable transmission network system capable of conveniently wheeling up to 10,000 megawatts (mw) of produced power in the short and medium term, as well as providing a solid foundation for future growth of the sector
Abubakar Atiku, Deputy Managing Director, TCN, gave the assurance that the transmission company can deliver 6,000mw without overloading the system. Saying that since 2002, the TCN had embarked on ongoing projects aimed at expanding the wheeling capacity of the system, and describing some of those projects as critical to ensuring grid stability.
Atiku however bemoaned the paucity of funds in the 2015 appropriation, where only N1 billion was provided for TCN. In order to bridge this funding gap, TCN is exploring external funding sources to complete some of its ongoing projects.