POWER
• Launch of the Roadmap for Power Sector Reform. The Roadmap launched sets out a clear implementation plan of the Electricity Power Sector Reform Act (2005) as a reaffirmation of the commitment to resolve the power crises and setting the path for power sector Improvement.
• The Re-instatement of the Nigerian Electricity Regulatory Commission. The regulatory body was strengthened with a new Chairman and Commissioners sworn in for the purpose of providing appropriate regulatory functions for the electricity market in Nigeria.
•The Jonathan administration unbundled the Power Holding Company of Nigeria (PHCN) into 18 successor companies for greater efficiency and effectiveness in power generation and distribution.
• Creation of the Nigerian Bulk Electricity Trading Plc. The President inaugurated the CEO and board of the Nigerian Bulk Electricity Trading Plc (also known as the Bulk Trader) in August 2011. The requisite environment for private sector investment in the Nigerian Power Sector has been created by establishing a credit-worthy offtaker of power, NBET Plc, who provides confidence to the power generating companies that they will be paid for power produced.
• The Jonathan administration launched the Energy Efficiency and Energy Conservation Lighting Scheme. This is to promote and encourage the use of energy efficient bulbs and lighting systems in order to create an energy conservation culture
• The Federal Government of Nigeria entered into an MOU with worldwide leaders in the power sector, General Electric. The MoU stipulates that General Electric will invest up to 15 percent equity in power projects in the country summing up to 10,00MW capacity by the year 2020. General Electric also proposes to establish local packaging facility for small aero-derivative turbines in Nigeria which will promote job creation.
• Signing of a Memorandum of Understanding with the US- ExIm Bank. The Ex-Im Bank of the United States of America signed an MoU with the Federal Government of Nigeria to provide an investment window of up to $1.5BN for investors willing to invest in the Nigerian Power Sector. This is the first time such quantum of money will ever be made available by the US Exim Bank for a specific sector in Africa.
•The Goodluck Jonathan administration has improved the power generation from around 2000 megawatts to 4502 megawatts in December 2012 the highest since Nigeria returned to democratic rule in 1999.
•By July this year, power generation will hit 6,000 megawatts and by December this year it will hit 10,000 megawatts (assurance given last week by Minister of State for Power).
•All ten Power Plants under the National Integrated Power Projects (NIPP) scheme to be commissioned by the end of this year. At the moment, majority of them have reached 95 percent completion stage.
•Improved power supply has been boosted in part by the emergency declared in the Gas sector last year by President Jonathan. At the time gas supply was insufficient. But now, thanks to the intervention by Mr. President, Nigeria now produces more gas than is required for domestic consumption.
•For more efficient power supply, the Jonathan administration has privatized the power distribution companies (DISCOs) under a most transparent bid process.
•Today, large parts of an unprecedented number of cities and towns across the country are enjoying between 14 to 16 hours of uninterrupted power supply, except in some few areas where localized problems of power distribution network have created bottlenecks for smooth transmission.
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