Tag: Power Sector

  • Power sector generated N700bn revenue increase in 2024 – Minister

    Power sector generated N700bn revenue increase in 2024 – Minister

    Minister of Power, Mr Adebayo Adelabu, on Thursday said the sector generated additional N700 billion revenue in 2024, reflecting a 70 per cent increase from what was collected in 2023.

    Adelabu said this during the 6th Edition of the 2025 Ministerial Press Briefing Series in Abuja on Thursday.

    “It is evident that, due to our transformative tariff reforms, the electricity market generated additional N700 billion revenue in 2024 reflecting a 70 per cent increase from what was collected in 2023.

    “This resulted from the cost-reflective tariff adjustment for Band A customers. This growth in market revenue is unprecedented, as the highest growth previously achieved was 20 per cent.

    “This positively impacts the reduction of the government-subsidised tariff shortfall by 35 per cent, decreasing it from N3 trillion to N1.9 trillion,’’ minister said.

    According to him, the growth in revenue demonstrates that financial viability and service delivery can coexist harmoniously.

    Adelabu also said that the commitment of President Bola Tinubu’s administration to energy access was further demonstrated when it signed the Nigerian Energy Compact in Tanzania in January.

    According to him, the initiative which is led by the World Bank and the African Development Bank  (AFDB) aligns with the administration’s aspiration to expand energy generation.

    “The target of M300 is to extend energy access to an additional 300 million Africans by 2030 out of the 600 million currently lacking access.

    “This initiative will be realised based on a five-pillar strategy: expanding generation, strengthening utilities, incentivising private investment, accelerating renewables, and boosting regional integration.

    “The compact sets ambitious goals to enhance electricity access, increase renewable energy adoption, and improve clean cooking solutions for millions of Nigerians, ‘’ he said.

    Adelabu further said that in fulfillment of the statutory mandate of the Electricity Act 2023, the Federal Government, through the Federal Ministry of Power, developed the National Integrated Electricity Policy (NIEP).

    He said that the transformative framework in NIEP would set a clear roadmap for delivering a resilient, cost-effective, and sustainable power sector.

    According to him, the NIEP, which was presented to the President  had  been submitted for approval by the Federal Executive Council of Nigeria.

    “This policy guides all power sector actors, including investors, operators, regulators, and the supervising ministry, to transform the country’s power sector through a data-driven and evidence-based approach,’’ he said.

  • Epileptic electricity: ACF asks FG to declare state of emergency in power sector

    Epileptic electricity: ACF asks FG to declare state of emergency in power sector

    The Arewa Consultative Forum (ACF) has called for a State of Emergency on power outage, lamenting that over the past week and still counting, most parts of the northern states of Nigeria have been battling with sustained electric power supply outages, leading to near total paralysis in economic and social activities in the region.

    The forum stated that the situation has led to growing generalised frustration of the populace.

    National Publicity Secretary of the ACF, explained that “the situation appears even more dire and frightening as statements from officials charged with the responsibility for power supply, the Transmission Company of Nigeria (TCN) suggest that the problem is likely to persist interminable due to technical and security challenges.
    Not unexpectedly, the problem has been a subject of intense debate and lamentations in the media, neighbourhood gatherings, business premises, etc.”

    ” The smallest of small businesses (such as telephone recharge points, barbing salons, food processors, drinks sellers, etc.), from which millions eke out a daily living are unable to operate. It has also been the same with medium-scale enterprises (such as rice mills, bread and confectionary bakers), that do not have alternative sources of power or cannot afford associated high fuel costs. “

    “Home and office operate without cooling and heating and at night are thrown into the medieval dark ages of the primitive, pre-civilisation era. ACF notes that there has emerged, and growing, palpably evidence that it is to the utter consternation and disappointment of people that the problem appears to attract only deafening silence, suggesting indifference, from those who are constitutionally expected to respond with care and concern.”

    “At extremes, not a few insinuate a deliberate strategy, among other tendencies, by the Federal Government to continue to socioeconomically shortchange and cripple the North.

    Such conspiracy hypotheses or theories abound in part because there has been no reaction from the Federal Government, the Minister for Power, elected officials including state governors, nor even feeble motions from state assemblies, such as to give the impression that the country’s leaders as little as care about the basic security and welfare of the people on whose behalf government presides over the nation. “

    “An exception to the muteness has been the brave voices of some members of the National Assembly, brave because muteness has since become entrenched in the behaviour of elected personalities.

    The problem, rather serendipitously, also exposes the gross inequities in power supply generation and distribution nationwide. While the North generates substantial electricity power, it is ironically allocated the least in supply. It just does not make any sense that Lagos alone has eight (8) sub-stations, while the whole of the northern states combined, harbouring more than half of Nigeria’s total population has only THREE (3) sub-stations at Jos, Kaduna and Kano.”

    ” The question needs to be posed is if ours an Animal Farm analogy – those who substantially are allocated the least.

    The situation at hand is a portent national security threat, against which the silence, especially, of public officials amounts to a phenomenal textbook illustration of the abdication of responsibility, as unacceptable as can be.”

    ” To suggest that the problem has its roots in what had been done or not in the past is merely to make excuses.

    “To lamely offer unintelligent excuses – excuses, not reason – that the problem cannot be immediately addressed due to banditry along power supply lines is to surrender to the terroristic criminals. It is inconceivable that Nigeria’s fairly vast array of security agencies, with their humongous budgetary allocations, cannot dislodge and subdue the rag-tag bandits, reclaim and dominate territory. “

    “On this score, it is disappointing that the National Assembly is yet to publicly demand accountability over this unacceptable scenario.

    It also amounts to unadulterated and untenable obfuscation, that the TCN (and the FGN) cannot marshal the necessary human, technical and other material to address the situation at hand with despatch.
    In the event and without equivocation therefore, ACF calls on the FGN and all those concerned to rise to the occasion by declaring a state of emergency on the problem before it snowballs into a crisis. This threat to national security should forthwith be treated with the seriousness it deserves.”

    “The problem be addressed with the honest URGENCY it deserves; calls for an immediate review of power supply allocation in the country since all consumers pay for it. It is unacceptable that while the North acts as a candle that supplies light, it is being melted down and plunged into darkness. This ought to and must change with immediate effect in the interest of national stability, fairness and equity, and Calls on elected northern state governors and, members of the National Assembly representing constituencies in the northern states to speak out more vehemently and stridently demanding action on the problem as outlined above.”

  • Transcorp Power MD/CEO, Christopher Ezeafulukwe, appointed MD/CEO of AEDC

    Transcorp Power MD/CEO, Christopher Ezeafulukwe, appointed MD/CEO of AEDC

    In its move to further strengthen the Nigerian power sector, the Managing Director/CEO of Transcorp Power Limited, Christopher Ezeafulukwe, has been appointed by the Board of the Abuja Electricity Distribution Company (AEDC) Board, as the new Managing Director/CEO of AEDC.

    This follows the acquisition of 60% stake in  Abuja Electricity Distribution Company (AEDC) AEDC, by a Transcorp-led consortium.

    Transcorp Power Limited has proven its mettle as a company in Nigeria’s power sector.

    Recall that  In May 2023, the National Council on Privatization  (NCP) approved the Transcorp-led Consortium, as the new strategic investor in Abuja Electricity Distribution Company. The news was received with great excitement by investors and the market, noting Transcorp Group’s track record in value creation, business transformation, and sound corporate governance practices.

    Serial entrepreneur and proponent of Africapitalism, Mr. Tony Elumelu is the Group Chairman of Transcorp. Elumelu is also the Group Chairman of UBA Plc and Founder of Tony Elumelu Foundation.

    With the acquisition which is in line with Transcorp Group’s commitment to improving lives and transforming societies, the Board of AEDC has appointed the Managing Director/CEO of Transcorp Power Limited, Christopher Ezeafulukwe, as the new Managing Director/CEO of AEDC.

    Prior to his appointment as the MD/CEO of AEDC, Ezeafulukwe was the MD/CEO of Transcorp Power Ltd, Ughelli, a 972-MW thermal plant. Under his leadership, Transcorp Power Ltd has consistently led the Nigerian power sector, being the first successor power company from the 2013 power privatization program, to be discharged from post-privatization monitoring by the National Council on Privatization, having surpassed the expectations of the Council. The Ughelli Power plant, which TranscoGroup acquired during the privatization of the power sector in 2013, demonstrates the Group's transformative prowess.

    The plant's available capacity, which stood at 160MW on acquisition, increased by 227% to 680.83MW in 4 years, surpassing the Bureau of Public Enterprise's (BPEfive-year target of 670MW. With Ezeafulukwe's proven capabilities and extensive experience, he will play a pivotal role in rejuvenating AEDC, the
    supplier of power to the nation’s capital.

    Transcorp Group's commitment to improving lives and transforming societies remains resolute. The Group’s subsidiaries, include Transafam Power Limited and Transcorp Hotels Plc, owners of Transcorp Hilton Abuja,have demonstrated continued value creation and a dedication to creating both economic and social wealth. With a combined market capitalization exceeding N540 billion, the Group continues to demonstrate the Africapitalism philosophy of its Group Chair – Tony Elumelu.

    In a notice published on the Nigerian Exchange(NGx) today, Transcorp noted that, “With Ezeafulukwe’s proven capabilities and extensive experience, he will play a pivotal role in rejuvenating AEDC, the supplier of power to the nation’s capital.

    “Transcorp Group’s commitment to improving lives and transforming societies remains resolute,” The company noted.

    The Group’s subsidiaries, including Transafam Power Limited and Transcorp Hotels Plc, owners of Transcorp Hilton Abuja have demonstrated continued value creation and a dedication to creating both economic and social wealth.

    Transcorp Group has a combined market capitalization exceeding N540 billion.

  • Labour Party tasks Tinubu on power sector challenges

    Labour Party tasks Tinubu on power sector challenges

    The Labour Party in Lagos State has urged President Bola Tinubu to urgently address all the problems militating against a stable electricity supply in the country.

    The party added that improving the supply of electricity in both urban and rural areas would further reduce the hardship encountered due to the removal of fuel subsidy in the country.

    The party’s Chairman in the state, Mr Olumide Adesoyin, gave the advice in a statement issued in Lagos on Saturday.

    The president on Friday promised to address every power value chain challenge that will significantly satisfy the people’s demand.

    The president also promised to enhance generation and improve national peak growth and sustainability far above the hitherto abysmal and unacceptable 5,300MW for over 200 million Nigerians.

    Adesoyin said stable electricity supply would reduce fuelling of generators that had been causing adverse effect on businesses and the general well being of Nigerians.

    The party chairman said one of the solutions to the power sector challenges was to address the metering gap in the country.

    “For a population of the size of Nigeria, the proper development of its power sector is critical to the country’s march into a rightful standing as one of the leading economies of the world.

    “At a Gross Domestic Product (GDP) of about US$500 billion, Nigeria is already the leading economy in Africa.

    “However, this could be well bolstered if the country would be able to get its power sector right.

    “One of the solutions in resolving the power challenges is for this administration to urgently address the metering gap which will boost Discos’ performances,” he said.

    Adesoyin said the president should create the right policy environment for increased private investment in power generation that would lead to the modernisation of transmission infrastructure.

    He urged the president to also work towards greater diversification of energy sources, emphasising renewable and clean energy sources.

    The party chairman said it was time the government considered nuclear energy as an option, adding that Nigeria should emulate countries like South Africa, Iran, and Turkey which have all built nuclear power plants.

    Adesoyin said it has also become expedient to urge the Lagos State government to consider putting all inner streets across the state in the best motorable, navigable, and accessable shape.

    According to him, this will reduce the wear and tear on vehicles while also reducing the man hours spent on the roads.

    Adesoyin appealed to the federal and state governments to consider subsidising the cost of food items in the market.

    He added that once the burden of hunger is removed from Nigerians, it would help to channel their energies into more productive ventures in the polity.

  • Energy supply crisis spurs Obi to visit Egyptian power stations

    Over the years, Nigerian energy supply has been in a near-comatose state, making the power sector unable to provide adequate electricity supply to domestic households and industrial producers. This is despite Nigeria being among owners of the world’s largest deposits of coal, oil, and gas.

    The energy supply crisis in Nigeria is complex, stems from a variety of issues, and has been ongoing for decades.

    Currently, only 45% of Nigeria’s population is connected to the energy grid whilst power supply difficulties are experienced around 85% of the time and almost nonexistent in certain regions.

    At best, the average daily power supply is estimated at four hours, although several days can go by without any power at all.

    Peter Obi
    Former Governor Peter Obi interacting with the top Executives and Engineers of the New Capital Power Plant in New Cairo, Egypt. The plant currently generates 4800 megawatts of electricity.

    In a bid to bring to an end the epileptic power supply in Nigeria, the former governor of Anambra and presidential candidate of the Labour Party, LP, recently embarked on a three-day visit to Egypt.

    TheNewsGuru.com (TNG) recalls that On Tuesday, the 14th of June, 2022, Peter Obi informed Nigerians via his Twitter handle of his trip to Egypt, to understudy by what miracle the third biggest economy in Africa (Egypt) after South-Africa and Nigeria moved their power generation from 20,000 Megawatts to over 40,000 megawatts in four years.

    Ironically, Nigeria has remained stuck on 4,000 megawatts since Adam.

    The candidate of the African Action Congress, AAC, Omoyele Sowore, opined that Peter Obi’s going to Egypt, to learn about governance or how some of their economic policies helped to turn their country around when it is nine months to the election, was a sign of unpreparedness.

    Peter Obi

     

    On the part of Jacson Ude, “Peter Obi is in Cairo for the AGM meeting of Afreximbank and not to understudy Egypt’s education, power and Finance Sector.”

    It was gathered that Peter Obi had traveled to Bangladesh, Rwanda, Kenya, Benin Republic, China, India, among others, to study aspects of their development and has been availing the country of his findings in his quest to see a better governed Nigeria.

    Power supply difficulties cripple the agricultural, industrial, and mining sectors and impede Nigeria’s ongoing economic development.

    Most Nigerian businesses and households that can afford to do so run one or more diesel-fueled generators to supplement the intermittent supply.

    A Nigerian comedienne, Dr. Helen Paul, had lamented that “Nigeria Is where you fuel generator to run your business and pay the profit to NEPA.”

    Since 2005, Nigerian power reforms have focused on privatizing the generator and distribution assets and encouraging private investment in the power sector.

    The government continues to control transmission assets whilst making “modest progress” in creating a regulatory environment attractive to foreign investors.

     

     

     

     

  • Privatisation of power sector has failed, reverse it now, Labour tells FG

    Privatisation of power sector has failed, reverse it now, Labour tells FG

    The Nigeria Labour Congress on Friday called for an immediate reversal of the privatisation of the power sector, insisting that its original purpose has been defeated.

    NLC President, Mr. Ayuba Wabba made the call at the union’s National Executive Committee meeting in Abuja.

    “We have said that the privatisation of the power sector has failed, and clearly before the privatisation, a lot of promises had been made, that power is going to be affordable, that it is going to be stable, and that there will be no challenge,” he said.

    “But all of us are aware that five years down the line, nothing has improved, and we have demanded that the privatisation of the power sector should absolutely be reversed because it has not actually provided any headway into addressing the challenge that was very evident before the privatisation process.

    The NLC also decried the delay in signing the electoral amendment bill into law and said it would not hesitate to resort to protests over the increase in the price of petrol come 2022.

  • How powerful forces stopped Fola Adeola from fixing power sector during Obasanjo’s administration – Okupe

    How powerful forces stopped Fola Adeola from fixing power sector during Obasanjo’s administration – Okupe

    A former presidential aide, Dr Doyin Okupe, has revealed how some powerful interests scuttled the decision of former President Olusegun Obasanjo to bring on board a co-founder of GTBank, Fola Adeola, to fix the defunct National Electricity Power Authority (NEPA).

    Adeola, he said, had agreed to fix the defunct NEPA after Obasanjo agreed to his suggestion to hand over the power firm to a proven and tested business administrator.

    But Okupe claimed some powerful men, who he didn’t mention, hijacked the idea by asking the former President to constitute a committee headed by Adeola as against giving the business tycoon free hands to operate the corporation.

    Okupe, who served as Special Assistant Media and Publicity to Obasanjo and Senior Special Assistant to former President Jonathan (Public Affairs), stated these in a series of tweets on Friday afternoon.

    He cited the case to buttress his argument that most people in government mean well with good ideas but are encumbered by several interest groups.

    Okupe tweeted: “Sometimes during Obasanjo’s regime, the President express deep concern about how NEPA can be revived and made to run effectively.

    “I told the President that the person who will run NEPA efficiently and deliver on service must be:

    “A very successful business manager and a good manager of men and resources.

    “He must be someone who the President will have to beg to do the job and most likely for a short time, say 3years.

    “The President agreed with me and asked me that I should give him a name of such a Nigerian.

    “I pondered for a while and I said, “Fola Adeola”. The President banged his table in excitement and said “YES! CORRECT”.

    He then asked, “can you reach him”? I replied, “yes”.

    “I got Fola and acquainted him with details of my discussions with the President. He was not enthusiastic.

    “He told me point blank that he was a serious minded and busy person but he will do the job with his heart for 3 years only.

    “He added that on the condition that he is given a free hand to run the organisation.

    “9am, we both sat before the President who was extremely warm and courteous. He then informed Fola that he wants him to help the country by leaving his business and help to put NEPA straight.

    “Fola explained that I had briefed him copiously and he will do it provided he has a free hand to do so.

    “Then the President said he will create a management committee which Fola will head. To me and Fola, this was news.

    “So Fola asked who will run the show? To which the President replied, “You and your fellow committee members.”

    “Fola declined and that was the end of the story.

    “I later found out that during dinner the night the President and I agreed on Fola, he mentioned the decision to a group of close friends and powerful associates who gave him the demerits of allowing the management of such a conglomerate to just one man in a country like Nigeria.”

    He added: “They also gave other cogent points which the opposition may latch on to blur the good intentions of the president in the eye of the public. So they suggested a team or committee to work with the proposed new MD.

    “Of course, each of them had a nominee in the suggested committee.”

  • World bank query Nigeria’s $750m loan as country loses N28bn to epileptic power supply

    World bank query Nigeria’s $750m loan as country loses N28bn to epileptic power supply

    The World Bank has declared that Nigeria has lost N28 billion to power epilepsy rocking the country. The apex bank, which stated this in a document in which it demanded accountability on $750 million loan it approved for Nigeria’s power sector, maintained that what the country lost to inability to fix power problem was equivalent to two per cent of its Gross Domestic Product (GDP).

    “The economic cost of power shortages in Nigeria is estimated at around $28 billion, which is equivalent to two per cent of its Gross Domestic Product (GDP),” the World Bank said.

    Getting access to electricity, it said, was one of the major constraints for the private sector according to the Ease of Doing Business report. It reiterated approval of a $750 million International Development Association (IDA) credit for Nigeria’s Power Sector Recovery Operation (PSRO), noting that the loan was to improve electricity supply. The bank, in a statement in Abuja, said that the target was to also achieve financial and fiscal sustainability and enhance accountability in Nigeria’s power sector. It explained that about 47 per cent of Nigerians did not have access to grid electricity and those who had access, faced regular power cuts.

    According to the bank, improving power sector performance, particularly in the non-oil sectors of manufacturing and services would be central to unlocking economic growth post-COVID-19. The statement quoted Shubham Chaudhuri, World Bank Country Director for Nigeria, as saying “lack of reliable power has stifled economic activity and private investment and job creation. ”This is ultimately what is needed to lift 100 million Nigerians out of poverty. “The objective of this operation is to help turn around the power sector and set it on a fiscally sustainable path. This is particularly urgent at a time when the government needs all the fiscal resources it can marshal to help protect lives and livelihoods amid the COVID- 19.”

    The bank said that PSRO would provide result-based financing to support the implementation of the Government’s Power Sector Recovery Programme (PSRP). It further explained that the PSRP was a comprehensive programme to restore the power sector’s financial viability, improve service delivery and reduce its fiscal burden.

    “The PSRO is expected to increase annual electricity supplied to the distribution grid, enhance power sector financial viability while reducing annual tariff shortfalls and protecting the poor from the impact of tariff adjustments.

    “This will enable the turnaround of power sector while helping the Federal Government to redirect large fiscal resources from highly regressive tariff shortfall financing towards critical crisis-responsive and pro-poor expenditures. It will also increase public awareness about ongoing power sector reforms and performance.

    “Specifically, the PSRO will ensure that 4,500 MWh/hour of electricity is supplied to the distribution grid by 2022 by strengthening the regulatory, policy and financing framework

    “It will also enhance the accountability and financial viability of the sector, helping the sector create a track record of sustainable operation necessary for unlocking much needed private investments in the future,” the bank explained.

  • Estimated billing system in Nigeria’s power sector “remains a no, no,” – Gbajabiamila

    Estimated billing system in Nigeria’s power sector “remains a no, no,” – Gbajabiamila

    The Speaker of the House of Representatives, Femi Gbajabiamila says estimated billing system in the power sector “remains a no, no,” and whatever needs to be done to address the issue must be carried out.

    He said this on Tuesday in Abuja, while inaugurating the House Ad hoc Committee on Power Sector Reforms, chaired by House Leader, Rep. Alhassan Doguwa.

    Gbajabiamila said setting up the ad-hoc committee became necessary because of the resolve of the house to ensure a comprehensive review of all legislation relating to the power sector.

    He added that he was personally concerned about the myriad of challenges in the power sector.

    “Our nation has long struggled with the problem of fixing the power sector in Nigeria and getting it to work in the optimal interest of all our people.

    “We have not succeeded, inspite of the best efforts of many.

    “The consequences of that failure are evident in the many industries that have collapsed across the country.

    “It is also apparent in the abysmally low productivity of existing industries due to the enormous cost of generating their power independently.

    “The power sector is so integral to our national economic growth, to national security and even to social development that we cannot ever stop trying to get it right.”

    Gbajabiamila said that to address the issues, the green chamber had on May 12 resolved to set up the committee to undertake a holistic review of the power sector in Nigeria and to recommend legislative action to it.

    He charged the committee to take steps to ensure that the house fulfils its commitment of a comprehensive review of all legislation in the power sector.

    “It would not be an easy task. Nation-building rarely is, but it will be a worthwhile effort when at the end of it, we can initiate and complete necessary legislative reforms to remove the regulatory and bureaucratic bottlenecks that continue to mitigate against optimum performance in the sector.”

    He, however, expressed confidence in the ability of the committee leadership and the members to deliver on the critical assignment given to them.

    “I assure you of my support and that of the House of Representatives. Still, I must ask you to keep three things in mind.

    “First, the complexity of the issues in the power sector are such that your success will depend a great deal on your ability to engage productively with experts and stakeholders across the Nigerian Electricity Supply Industry. Please do not be reluctant in this regard.

    “Secondly, be sure to resist any and all attempts to compromise your work or unduly influence the recommendations you make to the House.

    “Finally, remember that success in this assignment may very well be the defining factor of both your legacies as well as the legacy of the ninth House of Representatives”, he said.

    Earlier, Doguwa thanked the speaker for finding him and other members of the panel worthy of carrying out such an important national assignment.

    According to him, in spite of the huge investments made in the power sector over the years, Nigerians hardly feel the impact.

    He assured that the committee would do its best to unravel the situation.

    He said they would serve with their strength and sense of commitment, responsibility and patriotism and that they would not leave any stone unturned to right the wrongs in the power sector.

  • UPDATE: Reps move to probe over N2trn power sector investments

    UPDATE: Reps move to probe over N2trn power sector investments

    Disturbed by the poor performance of the power sector in Nigeria, members of the House of Representatives on Tuesday moved to probe its activities since 2001 involving over N2trillion investments.

    Recall that this is about the eighth investigative hearing into the lacklustre performance of the vital sector in Nigeria from the sixth Assembly.

    To this end ,the Committees on Power and Privatisation are expected to review the reforms in the sector and investigate its activities and report back to the House within four weeks.

    Moving a motion tagged ‘Urgent Need to Probe the Activities of the Power Sector’ in Nigeria was promoted by Chuddy Momah representing Ihiala Federal Constituency of Anambra

    Momah while making his submission went memory lane from 1998 till date citing the various power reforms in Nigeria.

    MO

    He noted that “before 1998. the National Electric Power Authority (NEPA) was almost exciusively responsible for electricity generation. transmission. and distribution in Nigeria.

    “Due to this, the Federal Government birthed the Electricity (Amendment) Decree 1998 and the National Electric Power Authority (NEPA) (Amendment) Act 1998 which once passed, terminated the monopoly status of NEPA and invited private sector participation in the electricity sector. This eventually led to the National Electric Power Policy of 2001.

    “This served the purpose of kicking off the power sector reform in Nigeria, leading to several other reforms over the last two decades.

    “This reform process led to the National Assembly passing into law, the Electric Power Sector Reform (EPSR) Act 2005 which provided for: an Act to provide for the formation of companies to take over the functions, assets, liabilities and staff of the National Electric Power Authority, to develop competitive electricity markets, to establish the Nigerian Electricity Regulatory Commission

    ” The agency is to provide for the licensing and regulation of the generation, transmission, distribution and supply of electricity; to enforce such matters as performance standards, consumer rights and obligations; to provide for the determination of tariffs; and to provide for matters connected with or incidental to the foregoing.

    “It aIso saw the change of name from National Electric Power Authority (NEPA) to Power Holding Company of Nigeria (PHCN). This development removed the monopoly of electricity generation, transmission, distribution, and sales from the former NEPA.

    “Worried that despite government regulatory framework, huge expenditure and private sector participation/investment to meet long term reform objectives.

    “As an indication of failure to achieve the gains of the power sector reform in Nigeria, there is need to review the Power Sector Reforms.

    1.That the Committee on Power & Privatization to review the extant laws, regulations, policies, and contractual arrangement guiding the Power Sector Reform.

    2. To review and investigate activities of the Nigerian Electricity Supply Industry. 3. Direct the Committee to submit its report to the house within Four (4) weeks