The Nigerian Electricity Regulatory Commission (NERC) has promised to meet the needs of Nigerians for safe, adequate, reliable and affordable power supply noting that with the current reforms in the power sector, the days of inadequate power supply in the country are numbered.
The Chairman and Chief Executive Officer, NERC, Dr. Sam Amadi, explained that although power generation in the nation is still low, stressed that with the reform in the power sector, there have been some levels of improvement showing positive future prospects for the sector.
Amadi who spoke at the Institute of Chartered Secretaries and Administrators of Nigeria (ICSANâ€™s) annual public lecture in Lagos, said: “We should also know that with the level of our standard presently, we cannot have uninterrupted power supply sometimes, so we should not just say because there is no power supply in some areas and say we have failed but within this scarcity, there are still some element of quality services that every consumer must have and our job is to ensure that every consumer enjoys this service.â€
He however stated that the desire of the private sector investors to recover their investment is critical, pointing out that the NERC ensures the participation of the private sector in the electricity market.
The NERC boss stated that the commission ensures that regulations which encourage profitable pricing and effective competition among market players are developed and implemented, while appropriate codes of conduct and rules of engagement are also enforced to ensure an efficient and investor-friendly market.
â€œThe whole idea of private structure is based on balancing which is critical because ultimately, what the consumer wants is adequate power supply and to achieve this, the consumer should know that it would be financed and investors must also recover their money,â€ he said.
In his words: “Our job is to keep the balance and also make sure power benchmarks the quality of service. We are now coming out with a regulation to compensate consumers in some cases who suffer grievous poor quality services.
The balance is between enabling the operator recover his money and the consumer being served well. A regulator is not a regulator if it cannot protect quality of service.â€
He said Nigerians should expect a change soon in the power sector, stressing that regulations are in place to protect and provide consumers safe, adequate, reliable and affordable power supply.
Earlier, the President and Chairman of Council, ICSAN, Dr. Suleyman Ndanusa, said the issue of power has lingered in the minds of well meaning Nigerians because it is pivotal to the development of the nation. He said over the years, Nigerians have looked forward to a time in the history of the country when the issue of power failure would become a thing of the past
â€œAs we all know, the absence of a steady power supply has contributed in no small measure to the high cost of doing business in the country when compared to other African countries or other parts of the world. This has affected the operations of businesses generally as businesses now provide their own power and are expected to still make profits,â€ he said.
He added that the institute is a member of the Corporate Secretaries International Association (CSIA), a Geneva-registered global organisation, dedicated to developing and growing the study of practice of secretaryship to improve professional standards, the quality of governance practice and to improve organizational performance.
â€œWe cherish this event because it is one of the ways by which we reach out to the public as part of our Corporate Social Responsibility (CSR). In addition, we X-ray very important issues that are germane which we believe would make the attendees better informed, enlightened and more knowledgeable as far as the subject matter is concerned,â€ he said.