Asiwaju Bola Tinubu, Nigeria’s President-Elect as part of renewed hope action agenda has promised to make the power sector viable and sustainable for all Nigerians moving forward by completely eliminating Estimated Billing and ensuring that all electricity bills are meter-based.
He made this promise in his power sector reforms agenda for Nigeria, which according to him are aimed at putting the country on a track to sufficient on-grid generation, transmission, and distribution.
In his renewed hope action agenda document reviewed by EnergyDay following his emergence as winner of the February 2023, presidential election, the President-elect said Nigeria’s economy is constrained by our inability to generate, transmit and distribute power efficiently, despite boasting of approximately 12,000MW of installed capacity.
Tinubu in the Renewed Hope Agenda said, “By streamlining and accelerating existing schemes such as the National Mass Metering Programme and the Meter Asset Provider Scheme, we shall seek to ensure that all electricity connections are properly metered within the shortest possible time frame.
“New connections will not be permitted to be energised from the Grid unless a meter has been installed. DisCos will be required to ensure that new connections are metered during the construction phase. We will further enable DisCos to charge cost-reflective tariffs for electricity supply.
DOMESTIC MANUFACTURING IF ELECTRICITY METERS
He promised that his government will reduce import levies on manufacturing inputs and provide other forms of support so that domestic manufacturers are able to compete and meet the demand for meters and provide targeted and efficient tax incentives for local manufacturing companies making meters.
POWER SECTOR GOVERNANCE REFORM
Tinubu in his reform agenda promised that his administration will work with the National Assembly to review the Electric Power Sector Reform Act 2005 and reform the regulatory and governance structure of our nation’s power sector.
He said, “As part of the review, we shall expand the existing regime for off-grid power generation and explore new ways to exploit clean coal, solar, hydro and other sustainable energy technologies.
” Adopting a mindset of enthroning international best practices, we will ensure that government processes and procedures improve efficiency and accountability for project management, design, procurement, construction, and remittances.
NIGERIA FIRST POWER POLICY
Tinubu in his hope-renewed agenda promised to introduce a Nigeria First policy by which gas resources shall be directed, as a #1 priority to Nigerian power generation.
He said, “We will, in addition, support power projects that can be delivered quickly to optimise grid reliability, grid interconnectedness and grid wheeling.”
Tinubu’s administration promised to streamline and relax regulations to enable private sector, local and state government actors to electrify rural Nigeria in a safe and secure manner with reasonable tariffs.
According to the renewed hope agenda, the President-elect is planning to encourage universities and polytechnics to become centres of research, devising new and innovative ways to bring more power to rural areas.
The administration proposed a policy that will empower willing and able investors to bring international finance and select generation resources based on rational grounds such as practicality, cost, and delivery times.
RENEWABLE ENERGY PLAN
The administration’s renewable energy plan based on the renewed hope agenda was structured on Nigeria’s commitment to carbon neutrality by 2060.
In the document, the President-elect promised to work with the National Assembly, State, and Local Governments, to provide the enabling environment, institutional, legislative, and regulatory reforms required to attract foreign and domestic private sector investors, as well as support from donor agencies to invest in the renewable sector.
The administration said, “Our solar energy plan will focus on all major parts of the power value chain to ensure that we take advantage of all that solar power has to offer in terms of generating, transmitting, and distributing power across the country.
“In the upstream sector, we shall focus on grid connectedness while also taking advantage of mini-grid and interconnected mini-grid solutions.
Tinubu’s administration however promised to encourage greater investment and research into the use of residential solar power solutions.
The President-elect in the document noted that Nigeria’s power problems cannot be solved overnight.
He said, “What we can do, and what we shall do is built on the foundation laid by President Buhari’s Presidential Power Initiative, among other important interventions, to put in place prudent, practical measures that will improve the situation today and make the power sector viable and sustainable for all Nigerians moving forward.”