The acting director general at the Bureau of Public Enterprises, Dr Vincent Onome Akpotaire, said stakeholders in the power sector only select sections of the regulation that suit their purpose to comply with; and disregard other aspects.
According to the Guardian, Akpotaire stated this when he led a BPE team, accompanied by members of the House of Representatives Committee on Privatisation, on an oversight visit to the Jos Electricity Distribution Company (JED).
He maintained that at present power generation is at its lowest in the country not because of privatisation of the generation companies but that the crisis in the sector is caused by socio-economic issues, which the National Assembly must address urgently, media stated.
Akpotaire urged stakeholders in the country to adhere to the Act as the only way to move the sector forward.
Regulation gas exchange rate
Media reported that the BPE boss also noted that gas pricing is a major issue in the electricity distribution chain, as most of the generating plants in the country are gas-fired and the price of gas indexed on the US dollar while collection was in Naira, a the situation that has created a gap in liquidity due to the exchange rate.
Suggesting a way forward, Akpotaire said it is depended on the Bureau and all stakeholders; including the Nigeria Electricity Regulatory Commission (NERC), and the National Assembly to change the scenario.
However, he added that a lot also depended on the National Assembly to ensure that the Electric Power Sector Reform Act was observed.
Managing director of JED, Tukur Modibbo, is reported to have expressed optimism that things would improve in the sector, noting that constant interaction with relevant stakeholders in the sector would provide a clearer understanding of issues.
Modibbo appealed for review of the gas pricing in US dollar as it was affecting the DISCOs’ ability to meet their obligations.