Chairman of the Nigerian Electricity Regulatory Commission (NERC), Prof. James Momoh, has expressed optimism that, “stable power supply in the nation will be realised in our life time.”
Momoh, explained that this would take place when the metering situation in the country improves within the next two years through the current Meter Asset Providers’ scheme as well as when renewable energy is allowed in the country.
The NERC boss, who stated this during an interview on Channels Television, stated that the commission was committed to improving the quality of lives of Nigerians.
“We are committed to improving the quality of lives of Nigerians every day and every minute. The target is that by the time we have improved meter within two years, that will improve the quality of service all over the country.
“By the time we allow renewable energy before 2030, a lot will be done. Formerly, I am saying do we have a target when all Nigerians will be powered? Hopefully, in our lifetime it will happen.
“What do I mean? It is going to happen because there is a big need for power supply to run businesses in Nigeria, and Nigeria wants to be the number 20 in the world,” Momoh said.
Momoh also clarified the electricity tariff situation in the country, saying the commission has not increased tariff contrary to what had been making the rounds since it published what he called, “a minor review” last month.
“We have not increased tariff at the moment. What we have done is, ask the big question: When do we get this thing right given that the Discos say we need cost-reflective tariff to be able to provide services that we actually should do?
“So we did a minor review which is a review that takes into account the exchange rate, gas availability, availability of capacity generation, network availability, to make sure there is meter available to customers.
“So looking at these, NERC therefore said look, we would have to take advantage of this opportunity given to us as a regulator to make sure we have a third party investor to provide meters, which is called Meter Asset Providers.