20 February 2008 – Nigeria’s President Yar ‘Adua has tasked the newly created presidential committee for the accelerated expansion of Nigeria’s power infrastructure with delivering 6000MW of power to the country, within the next 18 months.
The private sector driven committee, has been created to end Nigeria’s long running electricity crisis in the shortest possible time.
Members of the committee are:
- Chairperson: Minister of State, Energy (Power), Mrs Fatima Balaraba Ibrahim
- Secretary: Chief Executive Officer of the Nigerian Electricity Regulatory Commission (NERC), Dr Rowland Owan
- Chief Economic Adviser to the President, Mr Tanimu Yakubu
- Special Adviser to the President (Power), Mr Joseph Makoju
- Chief Executive Officer of the Africa Finance Corporation (AFC), Mr Austine O. Ometoruwa
- Chairman of the Dangote Group, Alhaji Aliko Dangote,
- Group Managing Director of the Wempco Group, Mr Lewis Tung
- Executive Director of Exxon-Mobil, Mr Cyril Odu
- Executive Director of Sahara Energy, Mr Kola Adesina
- Chairman of IBTC Bank, Mr Atedo Peterside, and
- Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Mr Abubakar Lawal Yar’Adua.
The committee’s terms of reference are as follows:
- Conduct an independent technical, financial and legal audit of infrastructure in Nigeria’s power sector;
- Source funding for the completion of ongoing NIPP projects based on terms and conditions mutually-acceptable to the Federal Government and investors;
- Provide inputs for the design of an appropriate securitisation structure to attract credible investors to the power sector; and
- Provide inputs for a power purchase agreement template that will ensure a reasonable level of return on investment for investors and affordable tariffs for consumers.
Special adviser to the president on communications, Olusegun Adeniyi said the committee’s mandate included adding an additional 11 000MW by 2011 through diverse sources.
The committee’s interim report is expected within a month and its input is expected to be vital to the Presidential declaration of a state of emergency in the power sector.