•Ask FG to suspend royalty, tax on gas
Energy experts, yesterday, raised concerns about Nigeria’s energy sector, insisting that the country’s economy faces serious uncertainty going by the poor outlook of the sector.
The experts, drawn from top private and public institutions, including the Nigerian Association for Energy Economists (NAEE), projected a catastrophic scenario if the Federal Government remains adamant on urgently addressing challenges bedevilling the sector.
The experts spoke at an event in Abuja organised by the NAEE on ‘Energy and Petroleum in a Post Covid-19 World’. Even after the pandemic, State Minister of State for Petroleum Resources, Timipre Sylva, who delivered an eight-minute speech at the event said it is unlikely the oil and gas sector would quickly recover. He, however, noted that efforts by the Organisation of the Petroleum Exporting Countries (OPEC) and other allies as well as Covid-19 vaccination were yielding positive results.
I support Igbo presidency in 2023 AFCTA agreement incomplete without N/Assembly’s input Why I sponsored a bill stopping payment for electricity meters
Hon. Ben Rollands Igbakpa served as a member of Delta State House of Assembly. He later became a commissioner of Transportation. At the moment, he represents Ethiope Federal Constituency of Delta State in the House of Representatives. In this interview, he among other national issues speaks on President Muhammadu Buhari’s invitation to the National Assembly, this week, and the continued stay of service chiefs despite resolutions to sack them.
What informed your motion on African Continental Free Trade Area, AfCFT, signed last year by President Buhari?
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With the number of grid collapses the country has recorded in last seven years, the umbrella body of the electricity Generation Companies, Association of Power Generation Companies (APGC) says the menace triples the maintenance cost of generating sets.
Data from the Nigerian Electricity Supply Industry (NESI) shows that between January to November, the country recorded four collapses and 127 from 2013 till date.
So far, 2020 has the lowest amount of collapses compared to 11 that was recorded in 2019.
The highest number of system collapse was recorded in 2016 with a total of 28.
Experts, however, have argued that the spate of grid collapses will only be resolved with adequate spinning reserve.