Dr. Vincent Onome Akpotaire, the Acting Director-General of the Bureau of Public Enterprises (BPE), has said that for the power privatization in the country to work, Nigerian Electricity Regulatory Commission (NERC) must be left to discharge its duties without interference.
Akpotaire was present at the 2-day stakeholders interactive dialogue/workshop called by the National Assembly on Wednesday. In his speech at the workshop, he suggested that NERC be allowed to fix tariffs in line with the Electric Power Sector Reform Act (EPSRA) without interference from the government. He also suggested that the government, instead of outright cancellation, should consider mitigating the effects of tariff increase by taking up a percentage of the tariffs, if the tariffs are considered high.
The Acting Director-General cautioned against the blame-game in the power sector and appealed to the executive and the legislative arms of the government as well as other stakeholders to come together to find solutions to the sector’s challenges.
Akpotaire also said that although, the Federal Government owns up to 40% of the DISCOs, it is still not part of the management because it was not funding its shares on the boards. The Performance Agreement executed with investors has assigned operational risks to investors. The PA provides that a core investor who fails to achieve agreed targets stands the risk of losing his/her equity at the payment of US$1 by the Federal Government.”