FG launches power sector recovery programme website

The Federal Government, on Wednesday, launched its power sector recovery programme (PSRP) website aimed at providing sustainable solutions to challenges in the sector.

Speaking in Abuja at a one-day workshop for media organised by the Nigerian Electricity Regulatory Commission (NERC) in partnership with the Power Sector Recovery Operation (PSRO) Secretariat, NERC’s Chairman, Sanusi Garba, said that the PSRP was initiated with the support of the World Bank to achieve access to adequate, reliable and affordable electricity in Nigeria.

According to him, the objectives of the PSRP include the power sector’s financial viability, improved electricity supply, reliability to meet the growing demand, strengthening the sector’s institutional framework, implementing policies that promote and encourage investors’ confidence, and institutionalising a contract-based electricity industry.

“Notwithstanding the electric power supply industry is now private sector driven, its relevance to economic growth and industrial development will require strategic government interventions.

“At this developmental stage, the industry’s challenges require that hands be on the deck to achieve an efficient and effective electric power supply industry that we desire for our economic development,” Garba said.

He stressed that one of the policy interventions of the FG is the National Mass Metering Programme (NMMP), which saw the installation of about one million meters at phase zero.

He noted that phase one of the NMMP, which envisages the installation of four million meters, will start as soon as the procurement process is concluded.

“In addition, Distribution Companies have submitted performance improvement plans to NERC, which commits them to certain minimum service delivery levels and progressive improvement in service quality and standards”.

Meanwhile, Engr Belije Madu of the PSRP secretariat in his presentation, disclosed that since the PSRP finance and technical committee was constituted in March 2021 tariff shortfall has been reduced from a historical accumulation of N1.9trillion to N247billion.

He said this was achieved through the programme’s financial plan approved in November 2021, which identifies how tariff shortfalls will be paid and promote sustainable growth of the Nigerian Electricity Supply Industry.

Similarly, he said among the six objectives of the Power Sector Recovery Programme (PSRP}, Discos are mandated to keep their payment obligations and support the strengthening of the financial and operational transparency and accountability of Discos through the publication of key information.

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FG launches PSRP website

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FG launches PSRP website