Energy experts and stakeholders have proposed a series of measures to revitalize Nigeria’s power sector, which continues to grapple with chronic inefficiencies and inadequate electricity supply. Naija247news reports that the recommendations were made during a roundtable discussion in Lagos on Tuesday, where participants emphasized the need for urgent reforms to address the sector’s challenges.
Thank you for reading this post, don't forget to subscribe!According to Naija247news, the experts identified inadequate funding, outdated infrastructure, and poor regulatory oversight as the major obstacles to the sector’s growth. “The power sector is in dire need of investment and innovation. We cannot continue to rely on outdated systems and expect different results,” said Dr. Olu Verheijen, an energy consultant who spoke at the event.
Naija247news gathered that the experts called for increased private sector participation in the power sector, including the establishment of public-private partnerships (PPPs) to fund infrastructure projects. “The government cannot do it alone. We need the private sector to bring in the capital and expertise needed to transform the sector,” said a representative of the Lagos Chamber of Commerce and Industry who spoke to Naija247news.
Naija247news understands that the experts also recommended the adoption of renewable energy sources, such as solar and wind power, to complement the existing grid system. According to Naija247news, the integration of renewable energy will not only improve electricity supply but also reduce the country’s reliance on fossil fuels.
According to Naija247news, the roundtable discussion also highlighted the need for stronger regulatory oversight to ensure transparency and accountability in the sector. “The regulatory framework must be strengthened to protect consumers and attract investors,” said Dr. Verheijen.
Naija247news reports that the experts’ recommendations have been welcomed by stakeholders, who see them as a step in the right direction. “This is a comprehensive roadmap for revitalizing the power sector. If implemented, it will transform the sector and improve the lives of millions of Nigerians,” said a participant who spoke to Naija247news.
As the government considers the experts’ recommendations, Naija247news gathered that there is growing optimism about the future of the power sector. “We have the resources and the expertise to fix the power sector. What we need is the political will to make it happen,” said an energy analyst.
Naija247news will continue to monitor developments in the power sector and provide updates on efforts to implement the proposed reforms. For now, the roundtable discussion has provided a clear roadmap for revitalizing Nigeria’s ailing power sector.
