How to harmonise stakeholders interest in Nigeria’s power value chain

Nigeria's power sector has long been plagued by challenges that have hindered the achievement of stable electricity supply across the country. However, Pedro Omontuemhen, the leader for energy and utilities resources at PwC Nigeria, believes that effective collaboration among stakeholders is the key to realizing the vision of reliable power for all Nigerians. Omontuemhen recently organized a round table discussion aimed at harmonizing the interests of different players in the power value chain to work towards a common goal of government - providing power to all. This round table highlighted the need for unity and cooperation among regulators, power users, generators, and meter providers to ensure success for everyone involved. The discussions emphasized the importance of working together to achieve sustainable progress in the sector. One of the critical issues addressed at the round table was the metering gap in Nigeria, which stands at around 10 million units. Metering is essential for accurate billing and revenue collection, which in turn contributes to the financial viability of the power industry. Omontuemhen stressed the significance of bridging this gap to build trust and promote stability in the sector. Additionally, the need for innovation in Nigeria's electricity transmission and distribution models was highlighted as essential for improving efficiency and service delivery. The feedback from consumers echoed the desire for reliable and affordable power, indicating a willingness to pay for quality service. Omontuemhen emphasized the importance of providing consumers with the right quantity and quality of power at fair prices to ensure satisfaction and long-term engagement. However, the issue of pricing and incentives for investment remains a challenge in the sector. The current tariff structure may not be conducive to attracting the necessary investment needed to drive progress and development. Omontuemhen suggested that a reevaluation of pricing mechanisms and potential subsidies could help create a favorable environment for investors and stakeholders. Ultimately, the goal is to strike a balance between affordability for consumers and profitability for investors to ensure sustainable growth in Nigeria's power sector. By fostering collaboration, addressing key challenges, and implementing innovative solutions, Nigeria has the potential to achieve a stable electricity supply that meets the needs of its population and drives economic growth.