The chairman of the Nigerian Electricity Regulatory Commission (NERC), Sanusi Garba has said that electricity in the country will improve from July 1.
Garba stated this at an interactive session with newsmen after the Second Nigerian Electricity Supply Industry (NESI) meeting on Wednesday in Lagos.
He explained that NERC had made a contractual agreement with Gencos, TCN and the 11 DisCos that would facilitate the generation, transmission and distribution of an average of 5,000MW of electricity daily to customers effective July 1.
According to him: “Yes, we have had discussions with the gas suppliers within our regulatory space. We have them on board to ensure that once we made the commercial requirements, gas was going to flow.
“Now, for transmission we have heard of figures well in excess of 5,000MW and clearly TCN will be able to deliver that.
“I recall clearly that in March last year we had 5,400MW. So, it means it is quite possible based on signed commitments.”
He explained that all the stakeholders were bound by the contract to carry out their part and if they defaulted there would be consequences.
“So, in a situation where Gencos are able to deliver 5,000MW but TCN is unable to do so, they’ll pay the penalty to the generation company and so on.
“And whenever the power is available and DisCos do not take the power;then they will pay liquidated damages that will compensate other market participants.
“We might not have 24/7 power supply from July 1 but Nigerians will see the trajectory because the target is to have an average of 5,000MW daily for transmission and distribution,” said Garba.
He also praised the Federal Government and the Central Bank of Nigeria (CBN) for their contributions in the power sector, adding that a positive change would soon be felt.