Chinedu Nebo, Minister of Power, has called for an increase in the maximization of gas utilization capacity if Nigeria is to ever experience stability in electricity supply.
The Minister stated this while speaking in Uyo, Akwa Ibom State during a retreat organised by Noel Akpata of Stratex Pro Services Limited, a strategy and execution firm for operators of the Nigeria electricity market. The retreat was held with the theme: Performance Culture Transformation for a More Effective Market Operator.
Nebo who was represented by Chidiebere Onyia, his chief of staff, noted that the power ministry would continue to work with the ministry of petroleum resources to create an enabling environment for private and public sector investments and partnerships.
He maintained that there would be a robust procurement process for coal utilization, leading to bankable feasibility studies driven by the Ministry of Power. The Minister added that a private investor like Zuma Energy is at an advanced stage in building collaborations to execute a coal power plant in the south-eastern part of Nigeria.
While asserting that the transmission infrastructure requires huge financial resources, Nebo stated clearly that government may not on its own have such funds to invest. He noted that the Ministry was looking at driving enabling policies that can attract the organized private sector to support government in expanding its transmission capacity.
He also commended the market operators for their strides in the CBN intervention fund, adding that it was important that the market operator continues to play its role as an independent market operator, ensuring what the new electricity market would look like in terms of transparency.
Aniedi Akpabio, chairman, Ibom Power, who represented deputy governor of Akwa Ibom State, expressed optimism that the ONEM would proffer optimal performance in the Nigerian power sector.
Others stakeholders who attended the meeting include the representative of Manitoba Hydro International, Mr. Paul Stegiszyn and Dr. Victor Udo, the Managing Director of Ibom Power, among other notable stakeholders in the energy sector.

Johnson Alabi
Leave a reply