After weeks of trials and errors with respect to the power sector, Mr. Adebayo Adelabu, Minister of Power, has held his first stakeholders meeting with the Generating companies (GENCOs) and Distribution companies (DISCOs), with a view to obtaining valuable insight on the challenges faced by the operators and to find a lasting solution to the challenges in the power sector.
Mr. Bolaji Tunji, Special Adviser, Strategic Communication and Media Relations to the Minister said this in a statement obtained by EnergyDay on Friday, after the meeting with the management teams of GenCos and DisCos on Wednesday in Abuja.
According to the statement, Adelabu revealed that the meeting was aimed at finding a lasting solution to the challenges in the power sector that had affected the growth and development of the country’s economy.
Adelabu during the meeting stated that there will always be regular stakeholders with all the players in the generation, transmission, and distribution value chain to constantly review developments in the power sector.
According to the Minister, the stakeholders meeting is the most authentic way of getting valuable information on the challenges faced by the operators as opposed to speculations.
He said, “We called this meeting to learn from you and the only way to salvage a bad situation is to understand the real issues on the ground.
“You will agree with me that power is the most important issue you need to re-energize the economy in terms of achieving the desired economic growth and industrial development.
“As contained in President Bola Tinubu’s inaugural speech, where he referred to power as a major driver of economic growth and industrial development,” he said.
While calling for better synergy within the power value chain, Adelabu emphasized that the success of the power industry cannot be achieved by a single operator.
He said, “Power is one of the most important things we need to energize the economy in terms of achieving the desired economic growth and Industrial development.
“The president has identified the power sector as a major driver of economic growth; therefore, no excuse will be entertained for non-performance,” he said.
Adelabu further hinted that the cooperation of the managing directors of the generating and distribution companies across the country will make an impact in the sector.
He said, “There won’t be anything as fulfilling as making an impact in the power sector within two to three years, delivering and sustaining electricity supply to the end users. They include schools, households, small businesses, and industries.”
Dominic Igwebike, NUEE Acting General Secretary, in a statement reported by EnergyDay in September, slammed the Minister’s ignorance and lack of consultation with critical stakeholders in the energy sector, potentially hindering effective collaboration and productivity in the quest to increase power output.