Fahola has braced up in his bid to fix the power sector in Nigeria having boasted in November, 2014 that it will only take 6 months to end the age-long problem.
Babatunde Fashola
The Federal Government has asked Electricity Distribution Companies (DisCos) in the country to immediately provide meters to Nigerians, insisting that it would no longer condone the situation where people pay for meters and fail to access them within a reasonable time-frame, according to This Day.
Briefing newsmen shortly after the third sectoral meeting of stakeholders in the power sector held at the Ugwuaji Transmission Station, Enugu, Minister of Power, Works and Housing, Babatunde Fashola however expressed optimism that the present challenge militating against the supply of electricity in the country would be surmounted once Nigerians understood how the system operates.
He noted that meeting which objective was to review all of the problems in all sectors of the power value chain succeeded in addressing the problem of Credited Advance Payment for Metering Implementation (CAPMI), gas, financial stability, volatility of foreign exchange in sectorsas well as difficulty of pricing local gas consumption in dollars instead of naira.
“Every time that we finish the meeting, one questions that we ask ourselves is whether the meeting has added value to the business and help to solve some of their problems, the result was a unanimous yes. In terms of specifics, the meeting addressed the problems of gas, financial stability, volatility of foreign exchange in sectors as to how that affects the ability of the power plants, the GenCos, the DisCos to implement their technical service agreement with their foreign partners, it addressed also the difficulty of pricing local gas consumption in dollars instead of naira. So these are some of the problems that people don't see but they ultimately affect the value of service, " Fashola said.
Briefing newsmen shortly after the third sectoral meeting of stakeholders in the power sector held at the Ugwuaji Transmission Station, Enugu, Minister of Power, Works and Housing, Babatunde Fashola however expressed optimism that the present challenge militating against the supply of electricity in the country would be surmounted once Nigerians understood how the system operates.
He noted that meeting which objective was to review all of the problems in all sectors of the power value chain succeeded in addressing the problem of Credited Advance Payment for Metering Implementation (CAPMI), gas, financial stability, volatility of foreign exchange in sectorsas well as difficulty of pricing local gas consumption in dollars instead of naira.
“Every time that we finish the meeting, one questions that we ask ourselves is whether the meeting has added value to the business and help to solve some of their problems, the result was a unanimous yes. In terms of specifics, the meeting addressed the problems of gas, financial stability, volatility of foreign exchange in sectors as to how that affects the ability of the power plants, the GenCos, the DisCos to implement their technical service agreement with their foreign partners, it addressed also the difficulty of pricing local gas consumption in dollars instead of naira. So these are some of the problems that people don't see but they ultimately affect the value of service, " Fashola said.
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