Energy theft and challenges associated with gas supply on Wednesday dominated discussions at the 2016 edition of PwC Power & Utilities Roundtable in Lagos.
Participants at the event attended by various stakeholders called on relevant government agencies to put in place adequate legislation to curtail revenue losses due to energy theft.
Speaking at the event, Lagos State Commissioner for Energy and Mineral Resources, Mr Olawale Oluwo, said a committee charged with the responsibility of finding legal solution has been raised by the state government.
He emphasized the commitments of the state government to deliver on energy, adding “Energy is the major catalyst for economic development and an enabler for all sectors and industries”.
Explaining further, Oluwo said: “Our nation can leap frog into first world status with reliable energy and the much needed revenue diversification of the economy can be achieved at this inauspicious time.
“We can reinvigorate manufacturing, deploy modern security apparatus using smart city solutions, provide world-class infrastructure and grow the economy exponentially through job creation opportunities and prosperity to all”.
Head of Market competition & Rate Division, Nigerian Electricity Regulatory Commission (NERC), Dr Haliru Dikko, disagreed with those calling for the suspension of the power sector privatization scheme.
Other speakers such as Chief Financial Officer of Ikeja Electricity, Mr Aigbe Olotu, Director and Head of Power, Africa Finance Corporation (AFC), Mr Batchi Baldeh, Chief Financial Officer, Synergy Capital Manager, Mr Kunle Falola, called for synergy and need for Memorandum of Understanding (MoU) with stakeholders.
Expressing satisfaction with the event now in its 6th series, PwC Leader, Power and Utilities (West Africa), Pedrol Omontuemhen said 148 indicated interest to participate at the event, adding “This is a way of stimulating the debate”.
