Chairman of the Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi, has said yesterday that the power sector local content regulation will become local content law in the first quarter of 2014.
The NERC said in a statement that the power sector local content law in this early stage of the transition is intended to avoid the mistakes made in the oil and gas sector where it is still dominated by expatriates 50 years after.
"We have a local content regulation that by February should become law, we don't want what happened in the oil and gas sector where after 50 years Nigeria is still importing technology. We have come up with a local content regulation that provides a framework for every company to begin to localise both technology, and services," the state quoted Amadi as saying.
He said the on-going renewable energy policy of the Ministry of Power articulates a framework of gradually increasing the portfolio of renewable energy, noting that the policy would soon be finalised and approved to diversify resources.
Amadi said although the Multi-Year Tariff Order (MYTO) modelled 10 percent of grid power based on renewables, there is however none at present, making gas to remain the best option.
On coal-to-power he said: "There's investment going on in coal. We have licensed over 2000megawatts of coal power, but in the short term focus on hydro and gas is Nigeria's more strategic future."