Senate President Abubakar Bukola Saraki has asked the Senate Committee on Power, Steel Development and Metallurgy to initiate immediate public hearing into the country’s deteriorating electricity generation.
Electricity generation is said to hover at 3000 megawatts (MW).
The hearing is to confirm and ascertain claims of non-remittance of funds among the Nigeria Bulk Electricity Trading Company (NBET), Electricity Distribution Companies (Discos) and Generation Companies (Gencos).
The committee is also to investigate how the Central Bank of Nigeria (CBN) paid the N213 billion intervention funds to the power sector and the usage of the funds.
The Senate President gave the mandate at the weekend at a stakeholders’ meeting aimed at finding answers to the dwindling electricity generation in the country.
Saraki said the committee should also consider the role of the Bureau of Public Enterprises (BPE), whose officials serve as board members in the Discos and Gencos.
He expressed displeasure with the poor electricity supply, especially its negative impact on growth and the need to pull out the country out of economic recession.
He feared total collapse of the country’s electricity system, if urgent steps were not immediately taken to remedy the situation.
Permanent Secretary of the Federal Ministry of Power, Works and Housing Mr. Louis Edozien, who led the stakeholders to the meeting, lamented that power generation has gone down to 3000MW/H from a 7000MW/H generating capacity with a 12000MW/H connected load.
Discos, Edozien said, are presently remitting about 45 per cent of collectable revenue instead of the performance agreement target of 65 per cent.
