Hope of reliable power supply to Nigerians may be realised before - TopicsExpress

Hope of reliable power supply to Nigerians may be realised before year end as the Presidency through the Bureau of Public Enterprise (BPE) has assured that additional 6,000 mega watts would soon be added to the national grid to complement the 4500 megawatts currently been distributed. The assurance was given by the Director General of BPE, Mr. Benjamin Dikki, just as he hinted that new investors in the power sector will be taking over the facilities in October this year, after payment of 75 per cent outstanding bid price. Dikki argued that power supply in the country will improve when the private investors eventually take over; adding that the introduction of sound maintenance culture would ensure that the current installed capacity of 6000 megawatts is exploited and put on the national grid. The BPE DG however appealed that the investors be given time to increase capacity after take over to re-tool and bring in new machineries like turbines which are not easily bought off the shelf, adding that procurement of machinery, installation and related activities may take up to three years. He warned that any investor that was unable to pay the 75 percent bid balance within six months from the date the mandatory 25 percent bid payment was made, would be penalized. Dikki allayed fears of monopoly by the investors as the necessary framework and institutional checks had been put in place to regulate their activities and ensure appropriate pricing. The BPE boss equally spoke on agriculture and the transportation sectors in the country, stressing that the Bureau was working in tandem with the transformation agenda of the present administration to transform the two sectors through the privatization of the Abuja Securities and Commodity Exchange (ASCE) and the setting up of a regulatory body in the transport sector. “When privatized, ASCE will ensure appropriate and stable pricing for all agricultural produce and warehousing while the setting up of Nigerian Transport Commission (NTC) will regulate activities in the transport sector,” he added. He noted that Nigeria’s investment drive was high as foreigners were willing to do business in the country. The BPE boss however appealed to all Nigerians to join hands with the government to make the country conducive enough to continue to attract direct foreign investments.