As the Federal Government of Nigeria makes an irreversible progress in the privatization of Power Holding Company of Nigeria (PHCN) successor companies, the WorldStage National Electricity Power Conference (WNEPC) 2013 in Lagos- Nigeria on September 24 is set to explore the huge potentials in the emerging private sector driven power industry.
With the Bureau of Public Enterprises (BPE) constituting transitional committees for the 15 PHCN successor companies whose preferred bidders had paid $559.446 million- the 25 per cent of the bid value, the private investors are expected to take over the power assets within the next six months.
WNEPC 2013 with the theme: ‘Moving Nigeria’s Electricity Power Sector Forward’, according to the organisers, would bring the policy makers and the private sector together to review the new development in electricity power sector, identify new challenges, deliberate on critical issues and chart the way forward for the realisation of stable power supply in the country.
Mr Segun Adeleye, President/CEO, WorldStage said 2013 will be a watershed in the history of electricity power supply in Nigeria, going by the milestones expected to be recorded.
“As Nigeria continues to experience huge gap in infrastructural provision which is capital intensive- requires about $110 billion in the next 10 years- this is the year when some aborted dreams of many years are to be realized through the ongoing Federal Government’s reforms,” he said.
He said as at late 2012, most of Nigeria’s banks lacked Electricity Power Desk because of long years of sole government funding, but with the multimillion dollars offered by core investors for the national power assets, “no one is still in doubt that a new money spinning sector that can eclipse the telecoms has come to stay.”
Mallam Sanusi Lamido, Governor, Central Bank of Nigeria in his presentation at the WNEPC 2012 noted that the power reforms “are expected to bring about the much needed increase in private sector participation, power generation and distribution.”
Expected participants in WNEPC 2013 include the Presidency, Ministry Power, Ministry of Finance, regulators, GENCOs, DISCOs, NIPP, IPPs, oil and gas firms, banks, insurance firms, local and foreign investors, media and other stakeholders.
According to the organizers, WNEPC 2013 would feature presentations from top government officials, industry experts and panel discussions on, Electricity Generation And Gas Supply; Transmission And Distribution Challenges; Effective Regulation of Power Sector; Alternative Energy Sources/ Energy Conservation; and Local and Offshore Funding of the Power Sector.