The Nigerian Electricity Regulatory Commission (NERC) has declared that powering the Nigerian industrial sector with adequate electricity could be realised with deliberate policy measures that would encourage investors to make long term capital investments in country’s power sector.
The Chairman and Chief Executive Officer of NERC, Sanusi Garba, stated this during the maiden edition of the Manufacturers Association of Nigeria’s (MAN) energy summit with the theme, “Power Supply Adequacy for Industrial Growth in Nigeria.”
Garba also said in his presentation titled, “Opportunities and Challenges of the New Electricity Act for Reliable Power Supply to Industrial Sector,” that attaining adequate power supply to the industrial sector could only be sustainable if right pricing of electricity is embraced and implemented.
He explained that the Electricity Act 2023 has provided the foundation for improving the Nigerian power sector but its implementation without addressing fundamentals challenges would not guarantee desired improvement.
“Nigerian power sector currently struggles to meet customer’s expectations due to myriad of challenges. Investments are, therefore, required but capital and investments follow the path to recovery.”
