Electricity is a commodity or product that requires cost recovery returns on Investments. This is the reason why power business value chain must be viewed purely from commercial perspectives. Doing this would ensure steady supply of electricity and create an enabling environment for investors.
But with the current situation in the industry in which stakeholders are faced with fixed tariff or over bloated tariff creating viable and harmonious atmosphere for both the investors and consumers may be an uphill task. It is therefore important that such an obstacle is removed for the benefit of everybody.
Nigerians and by extension electricity consumers have been reduced to bargaining chips and Instruments of collateral used by successive governments to secure foreign loans, all in an effort to improve supply to the citizens.
Another thing that should be looked into if stakeholders are to ensure an efficient power supply in the country is the review of the framework of the presently discriminatory gas pricing methodology and over Dollarisation of the gas market.
This essence of this is to ensure an equitable distribution of gas produced for domestic obligations and bulk users of gas for industrial, manufacturing and productive activities in high intensity employment generation companies.
The Nigerian economy would remain under developed and will be at the mercy of global exchange rates volatility and global economic uncertainty and instability unless the government take a bold step towards having progressive growth in the Power Sector.
Nigerian Economy is majorly an import dependent one and with 90percent of good and services coming from abroad.
Nigerian economy is the largest market in Africa and going into various Free Trade Protocols hook line and sinker without a productive economic base and getting it right with the Nigerian Power Sector would be a disservice to national sovereignty and Nigerians / Nigerian State.
According to Kola Olubiyo President, Nigeria Consumer Protection Network, he said, more than ever before, the time to get the power sector right is now as a people and a sovereign State.
He said the power sector challenges has assumed a state of national emergency that requires surgical intervention and pragmatic treatment.
Every year, the country send out several thousands of graduates from our Ivory Towers without space to engaged and employed them.
If the country can get it right with the Power Sector then she can be rest assured of up scaling her absorptive capacity for employment.
Abdullahi Saidu, a business consultant said that fixing the power sector myriads of crises will take away hopelessness and bring back the jobs, stating that what Nigeria has been doing by not fixing the power sector is tantamount to exporting jobs
He said Nigeria can only be Independent if and when she is economically independent which comes with fixing the Power Sector and getting it right with the Nigerian Power Sector.
“At the moment, we are progressing in error and travelling at speed in reverse mood,” he said.
Other stakeholders however believe that all hopes are not lost yet if only there could be a holistic appraisal of key performing indicators as well as rejig and reconfigure the power sector now.
