The Nigeria Power sector is gradually beginning to see the light at the end of the tunnel. The recent actions and activities of the federal ministry of Power, Works and Housing have all been geared at implementing the Incremental power policy. This show of interest by the authorities in-charge of the power sectors and other key stakeholders is an indication that progress is gradually being made in the Nigeria Power sector.
In the words of the Honourable Minister of Power, Works and Housing, Mr. Babatunde Fashola, “We are on a journey to a destination of promise and eventual prosperity and I use this occasion to salute the efforts and contributions of all those who have brought us this far“. This is an indication that the authorities are aware that all is not well, but have taken their time to count the rays of hope inside the tunnel.
The impressive performances of the Federal Government through the Ministry of Power, Works and Housing on the power sector within the last few weeks is imperative of better days ahead and viability of the power sector. Just when it seems that all investors were on the verge of pulling out, the Japan International Cooperation Agency (JICA) partnership with the Federal Government came through via the recent commissioning of the 60MVAR Capacitor Bank at the Apo 132/33KV substation in the FCT.
The Managing Director of the Transmission Company of Nigeria Mr. Mohammed Gur-Usman during the commissioning made it known that “JICA is supporting us with a loan that will help us increase transmission capacity between Lagos and Ogun States to more than 1,000MW”. The installation of the capacitor bank is also an indication of the fact that the Federal Government is not only concerned about the quantity of power being supplied to consumers but also the quality.
A new set of private investors (Meter Assets Providers) have been welcomed to invest in the power sector and some DisCos have made open their tendering and bidding process for interested MAPs.
Similarly, Azura power plant attained full operational capacity of 450MW during the weekend when its other two turbines were synchronized into the national grid. This feat was achieved as earlier scheduled.
Mr. Babatunde Fashola during the 26th meeting in Umuahia made it known that the Transmission Company of Nigeria and the Niger Delta Power Holding Company have over 90 and 100 projects at various stages of completion respectively. The NDPHC projects are centered on increasing the distribution capacity of the DisCos and would be handed over to them immediately after completion.
As regarding power generation, the Federal Government, through NBET and TCN, is executing these tasks by signing Power Purchase Agreements (PPAs) with Prospective Power Generators, where the terms are agreeable. All these are geared at increasing the generation capacity of the country.
With all these significant approaches made with the last few week, one can infer that better days are ahead and hope is rising.