Business
Institute Charges Experts On Power Sector Dev
The institute of Electrical,
Electronic Engineers has reiterated the need for greater commitment and inputs from experts and professionals in policy development and reforms in the Nigerian Power Sector.
A top official of the Port Harcourt branch of the institute, Engineer Isaac Adekanya said this while speaking with The Tide during an exclusive interview in Port Harcourt recently.
Adekanya, who is an Electrical Engineer, said part of the challenges of the Power Sector in Nigeria was that professionals were not given the opportunity to make inputs and contribute their quota in policy formulation and implementation.
Such denials according to him created opportunities for people without any professional experience and expertise to be involved in the Power Sector service delivery.
He noted that such misplacement of priories was primarily responsible for the stunted development and poor service delivery in the country’s power sector.
The expert called for stronger synergy between the government and professional bodies to fashion out practical modules and ideas that will; “tackle old inefficiencies and enhance quality service delivery in the Power Sector.”
He faulted the processes of engagement of GENCOS, TRANSCOS and DISCOS and others service providers in the power sector, noting that it was based on commercial motives rather than competence and experience in service delivery.
He said government should borrow a leaf from the reforms in the Telecommunication industry and create room for more service providers to participate in the power sector, adding that the criteria for engagements of the service providers should be based on expertise and competence rather than political and commercial interests alone.
Adekanya, who called for a review of the Nigeria Power Sector Laws, also canvassed that states should be allowed to generate their own power to tackle their own peculiar power needs.
This he noted will boost economic growth in the states and help in tackling the burden of power generation on the part of the Federal Government.
He retreated the readiness of the Institute to partner with government and relevant stakeholders to promote efficiency in Nigeria Power Sector.
Taneh Beemene
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.