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Home Business News

Poor policies affecting growth in the power sector – Reps

William Ukpe by William Ukpe
August 12, 2021
in Business News, Energy, Spotlight
NCC, MDA, SEEPCO, local content laws, CBN Cashless Policy: Reps eye policy reversal, court Emiefele approval , Lawmakers tackle Finance Minister over failed CCTV project worth $460 million , Former Ghanaian President, Mahama begs Buhari to open border Former President of Ghana, John Mahama has appealed to President Muhammadu Buhari to open up its borders saying that Ghana has been heavily affected by Nigeria’s decision to close its borders. Mahama said that for economic activities to resume in West Africa, Nigeria needs to reconsider its decision on the total border closure. He made this plea while delivering the seventh anniversary lecture of investiture into The Realnews Hall of Fame and the unveiling of a book, titled: Pathways to Political and Economic Development of Africa. According to the former president as reported in The Nation, the closure of especially the Benin border, was taking a significant toll on many small and medium businesses, especially in Togo, Ghana and Cote D’Ivoire, which relied on inter-country trade. “I am sure that businesses in Nigeria that rely on supplies from these countries are also suffering. With the signing of the joint border task force agreement between Nigeria and her neighbours, I will like to take this opportunity to appeal to Nigeria to open up her border so that economic activities can resume,” Mahama said. While reacting to the shut down of shops owned by Nigerians by the Ghana Union of Traders’ Association (GUTA) as retaliation to the border closure, Mahama said; “Back home in Ghana, I also look forward to our government’s intervention that brings an immediate cessation to the forceful and illegal closure of shops of foreigners, especially Nigerians, by members of the local trade associations”. Mahama who is a former Chairman of the Economic Community of West Africa States (ECOWAS) spoke on how he still has an abiding interest in the progress of ECOWAS and its people. In this light, he said that Nigeria being the home of ECOWAS and the largest economy in West Africa should not allow the objective principles for establishment of ECOWAS to be lost. Meanwhile, the Vice Chancellor of Niger Delta University, Bayelsa State, Prof. Samuel Edoumiekumo, advised President Muhammadu Buhari not to yield to pressure to reopen the borders. Edoumiekumo who was also present at the lecture said President Buhari should remain firm in his resolve to ensure economic growth and the country’s development as the border closure will generate more revenue for the nation and tackle smuggling., Nigerians are enraged as lawmakers reject Innoson cars for latest Toyota Camry , FMBN ex-MD ordered to refund his salary, submit FMBN accounts over infractions
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The House of Representatives has warned that the lack of efficient policies is a roadblock to growth in the power sector.

This was disclosed by Rep. Magaji Aliyu, the Chairman of the House of Representatives Committee on Power on Wednesday at the third annual general meeting of the Association of Rural Electrification Contractors of Nigeria (ARECON).

The Reps Committee boss added that the relocation of certain parastatals and agencies under the Ministry of Power to other MDAs was one of the major issues causing confusion in the sector. He insisted that the Power Ministry must be given the free will to drive power reforms.

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What the Reps Committee Chairman said

Aliyu said, “Today, you will hear that a particular part of the ministry of power has been shifted to another organisation, which I believe is an aberration of the concept.

“For example, Nigeria Bulk Electricity Trading Company, there is a tug of war. Where does the organisation belong? Is it in power or is it in the Ministry of Finance? There is an issue of Hydro-Power Development Authority. Is it going to the presidency, or is this going to power?”

He added that there are political machinations not to allow power to grow in Nigeria. He further stated that there are multiple issues in the sector, including Nigerians paying for power they did not consume, a phenomenon which he says needs change.

Aliyu also used the opportunity to strongly debunk allegations that lawmakers interfere in the procurement process in contract awards to contractors. The lawmaker said that the allegations were untrue.

In case you missed it

Nairametrics reported last week that the Nigeria Labour Congress (NLC) insisted the Federal Government must by December, implement the agreement to reduce electricity tariffs by N15 per kilowatt-hour.

The NLC, while serving a notice, warned that it would not accept the serial violations of agreements by the government.

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