The review would examine challenges and proffer solutions on the various aspects of the electricity value chain
The Nigerian electricity market operators on Tuesday announced plans to review the Nigerian Electricity Supply Industry (NESI) performance in the country.
Stephen Ogaji, the chairman of the NESI market participants and stakeholders roundtable (NMPSR) planning committee, disclosed this at a press briefing in Abuja on Tuesday.
The NESI is primarily made up of the Generation Companies (GenCos), the Transmission Company of Nigeria (TCN), the Distribution Companies (DisCos), and the consumers.
Speaking with journalists on Tuesday, Mr Ogaji said the review which is scheduled to take place from 30 October to 1 November, hopes to provide a platform for a robust and comprehensive discussion of the issues and prospects associated with the NESI.
"This inaugural roundtable event, titled "NESI Privatization & its 10-year milestone: The Journey So Far, Opportunities And Prospects," is the first of what we hope to be a bi-annual conference event that provides a platform for a robust and comprehensive discussion of the issues and prospects associated with the Nigerian Electricity Supply Industry (NESI).
"We expect that the event will bring together the various experts, operators, vendors, and miscellaneous other stakeholders, necessary for the progressive determination of the way forward for the sector.
"This first NMPSR event holds a special significance, as we come together not only to deliberate on the challenges and opportunities that lie ahead but to also acknowledge the journey of the Nigerian electricity supply industry in the last ten years, post-privatization," Mr Ogaji said.
He explained that since November 2013 when the final leg of the privatization of the Nigeria power sector was completed, the assets were successfully handed over to private investors by the Federal Government of Nigeria.
"While it has been a decade of ups and downs, the resilience, dedication, and collective effort from all stakeholders have all brought us to where we stand today, not quite where we ought to be, but making incremental progress towards the final objective of consistent and sufficient power supply," he said.
He noted that NMPSR serves as a testament to the spirit of collaboration that has driven this journey so far.
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"The conference is a 3-day event that is expected to bring together representatives, regulators, investors, and experts to diligently examine challenges, and proffer solutions on the various aspects of the value chain - gas, generation, transmission, distribution, metering, finance/liquidity, renewables, as well as explore potential ramifications of the new Electricity Act 2023.
"It is an occasion to acknowledge the milestones that have been achieved while addressing the work that lies ahead to further strengthen the sector."
According to him, the conference will be a platform for open dialogue, where ideas will flow, experiences will be shared, and partnerships will be forged.
"Together, we will explore strategies to Overcome remaining challenges, enhance efficiency, and ensure that we remain steadfast in our commitment to delivering quality electricity supply services to Nigerians," he said.
"As we recognise the milestone of a decade of privatization of NESI, we must also acknowledge the role of the Nigerian people. Their resilience and understanding during this period have been invaluable, and it is their support that has driven us to focus meet our responsibilities.
"We envision this conference as the beginning of a new era of cooperation, progress, and growth in the sector. Together, we can shape the future of Nigeria's power industry and create an environment that empowers economic development, enhances living standards, and unlocks the nation's true potential," he added.
