Industry experts have recently proffered practical solutions to end the lingering power challenges in Nigeria, citing embedded power, cost effective tariff, and full privatisation of power plants and a host of others as the way forward.
The experts, who gave their submissions in Lagos at the PwC's Annual Power and Utilities Roundtable, noted that among other challenges in the sector like metering bad debt, settlement dynamics, the power recovery programme is in crisis.
Some of them, who supported the full privatisation of the Transmission Company of Nigeria (TCN), also maintained the total privatisation of the remaining power plants nationwide as well as full privatisation of the restructured Nigerian gas company.
In his keynote address, the Lagos State Commissioner for Energy and Mineral Resources, Olawale Oluwo, said to ensure the success of the power recovery programme articulated by Federal Government advisors, and the World Bank, there is a need for a credible, sustainable and realistic roadmap that can deliver effectively to unlock opportunities.
Oluwo, who recommended the full implementation of cost effective tariffs in major cities like Lagos, Kano, and Port Harcourt that have large power consumers, said there is no point putting everybody together and waiting for the next five years before there can be headway.
He further observed that over time, what is gotten from these major power consumers would be used to subsidise other states that are not in a position to embrace cost effective tariff.
"The economy of Lagos supports the implementation of cost reflective tariffs, and if we start it in state, it would be easy for us to push it further to other parts of the country," he added.
Speaking on the theme, "The Pathway to Recovery," the commissioner said Lagos is key to the success of the power sector recovery programme, because it is the major consumer of power in the country, and with its imbedded power programme in the pipeline "we would become the net exporter of power in Nigeria."