The Federal Government has said that the Nigeria Bulk Electricity Trader (NBET), will be fully capitalized before the end of the year, to guarantee smooth operation for independent power providers in the country.
To this end, the Minister of Power, Professor Chinedu Nebo, while receiving members of the Independent Power Providers Association of Nigeria (IPPAN), in his office, called for more active participation of independent power providers in the sector.
According to him, Government is poised to tackle the problem of transmission and as such, is committing most of the proceeds of about $1.6 billion which is to be realized from the sale of National Integrated Power Projects (NIPP) to it, to ensure that there is enough wheeling power provided for the distribution of every megawatt of electricity generated.
Professor Nebo, who also assured that import duty waivers would be provided for all power equipment, added that the suppressed demand for power in the country is so huge that no matter the number of power providers on board, there will still be a market for any amount of power generated.
He drew attention to the breakthrough in the Telecommunications Industry, saying, "What is about to happen in the power sector will dwarf that of the Telecoms". He also stated that the President will be performing the commissioning ceremony of Geometric, Aba, the first independent power project in the country.
While responding, the Chairman of IPPAN, Professor Jerry Gana called for urgent Government's intervention in the area of challenges faced by IPPAN to fast track the development of power plant projects being undertaken by its members.
Also speaking, the Vice Chairman of the group, Mrs. Agatha Nnaji acknowledged the various problems militating against smooth flow of power in Nigeria.
She stated that the group was comforted by the support intervention being promised by the Minister.
Federal Republic Of Nigeria | nigeria.gov.ng
Electricity is just something that must improve in this country for things to go smoothly. We have to really work on that!