Minister of Power, Chinedu Nebo, who announced this during a meeting with the operators, said government would no longer tolerate excuses from the private sector, which has been in control of the power sector for over a year now.
Nebo said the “main focus of TEM will be the consummation of all contractual obligations as stipulated in the rules,” adding that TEM “declaration is not the start of the transition, but an attempt to make the market more matured and robust”.
While calling on the operators to do their beats, he promised a level playing ground for all.
The minister insisted that government “will not accept any excuse for the inability of all actors to provide Nigerians with uninterrupted power supply”.
He disclosed further that the Central Bank of Nigeria (CBN) is ready for the sector and urged all market participants to “perfect their papers in order to access cheap fund under the government’s Intervention Initiative”.
Professor Nebo also disclosed that government is determined to radically address the lingering metering-gap existing in the power sector, which will help block leakages thereby making more resources available for investment.
The minister spoke about the negative impact of vandalism on power generation, saying he and his counterpart in the Ministry of Petroleum Resources have perfected plans to stem this ugly tide.
He also spoke about plans to increase power generation through access to gas by plants built under the National Integrated Power Project (NIPP), and enhanced transmission capacity.
He added that government would also pursue, with vigour, energy efficiency and conservation initiatives.
The statement added the Permanent Secretary, Power, Godknows Igali, during the meeting, harped on the need for distribution companies to be more innovative in their load shedding arrangement.
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