Business

Epileptic power supply may persist till 2023 – DisCos

Epileptic power supply may persist till 2023 – DisCos

The Electricity Distribution Companies in the country said the problem of epileptic power supply in the country may not end in the next five years if the challenges bedeviling the development of the power sector were not checked.

The Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors (ANED), Sunday Oduntan, who made this known while addressing newsmen at a press conference on Tuesday in Lagos, said the liquidity issue in the sector was a major challenge to the power firms.

“There is a need for collaboration among stakeholders in the sector to proffer solutions to the problems. If the DisCos collapse today, many Nigerian banks will collapse too.

“The point is that those who have put their money in the sector will be the first persons to wish that the system succeeds, because the failure of the system means their money is also going down the drain,” he said.

Oduntan, in his response to the Minister of Power, Works and Housing, Babatunde Fashola, urged the Federal Government not to politicise the power sector.

He called on relevant stakeholders to work in unison in order to collectively solve power issue in the country.

“It is our interest for all of us to work together and find solutions to the problems of the sector. If we do that, everybody will be happy, the customers will be very happy.

Read also: CBN to buy commercial papers from companies at single digit rates

“I implore fellow Nigerians to please check whether we are lying. Let’s discuss issues and not personalities. We have no reason to lie. For us, we have a lot of things at stake because if there is sufficient power supply, efficient distribution by us and if we do all that we are supposed to do, then we will make more money,” he added.

Oduntan said the issue of metering was no more in the hands of any power distribution company in Nigeria, assuring that the firms were willing to support the recently introduced Meter Assets Provider (MAP) Regulations to ensure it becomes successful.

The Nigeria Electricity Regulatory Commission (NERC) had introduced the MAP Regulations to eliminate estimated billing practice, attract private investment into the provision of metering services, and bridge the over five million metering gap through accelerated meter rollout.

​By Oluwasegun Olakoyenikan​…

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Join the conversation

Opinions

About the author

Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

Do NOT follow this link or you will be banned from the site!