The Bureau of Public Enterprises (BPE) has called on stakeholders in the power sector to adhere strictly to all sections of the Electric Power Sector Reform (EPSR) Act to move the sector forward.
The Acting Director General of BPE, Dr Vincent Akpotaire, made the call in Abuja on Monday.
He made the call when he led BPE staff and members of the House of Representatives Committee on oversight visit to Jos Electricity Distribution Company (JED).
Akpotaire said that the sector was facing crisis because stakeholders complied with sections of the Act that suited their purpose and disregarded the other aspects of the Act.
He said that power generation was at its lowest ebb in the country today; not because of the privatisation of the generation companies as was being erroneously canvassed in certain quarters.
He said, rather, the crisis in the sector was caused by socio-economic issues which the National Assembly should address urgently.
Akpotaire said that gas pricing was a major issue in the electricity distribution chain.
He said that most of the generating plants in the country were gas fired and the price of gas was indexed on the US dollar while collection was in naira.
According to him, the situation has created a gap in liquidity due to the current price of the dollar to the naira.
“The bureau including the Nigeria Electricity Regulatory Commission (NERC) and the National Assembly has the capacity to change the scenario,’’he said.
Responding, the Managing Director of JED, Tukur Modibbo, expressed optimism that things would improve in the sector.
He explained that constant interaction with relevant stakeholders in the sector would provide a better understanding of issues.
Modibbo said that the interaction with the lawmakers would also guide their decisions in charting a way out of the current crisis that had bedevilled the sector.
He commended the BPE for the positive role it was playing to ensure a turnaround in the sector.
He, however, appealed for a review of the gas pricing in dollar as it was at present affecting the DISCOs inability to meet their obligations.
Also, the Chairman, House Committee on Privatisation, Yerima Ahmed, commended the JEDC for its achievements so far.
Represented by Olatunde Kolawole, he said that the House of Representatives was not unaware of the challenges the DISCOs across the country were facing.
Ahmed said that the objective of the power privatisation was for efficient and effective power delivery to consumers.
He said that the objective was one of the key performance indices of the DISCOs in the performance agreement entered into with the Federal Government.
The committee also visited the Jos Steel Rolling Mill (JSRM) now Zuma Steel West Africa.
The team frowned at the inability of the new investors to produce the short-term, medium-term and long-term plan to turn the enterprise around.
Some members of the host community who were present expressed displeasure at the turn of events since the company’s takeover.
They said that the premises had become a hideout for criminals in the area.