Press Releases

Media Contacts

Name: Michael Faloseyi

Phone: 09- 462.1408

Name: Samuel Ekeh
Phone: 09- 462.1408

Investment and Money go Hand in Hand - Amadi tells Civil Societies in Lagos

Investors would have to find the market environment attractive or they will not invest, according to the Chairman, Nigerian Electricity Regulatory Commission, Dr. Sam Amadi. He made the remark at a one day forum with Journalists for Democratic Rights and Human Rights Community (JODER) held on 23rd August, 2013 in Lagos.

Amadi did not mince words when he said that high population coupled with past government‘s failure to invest in the sector has brought the country to the sorry state it has found itself.   He said that the country has seen a way of changing the situation through investors. 

‘’ Power production needs investments that spans years, contracts are signed, funds are injected into the market and someone has to agree to buy for certain number of years’’.

He explained that one megawatt of electricity capacity costs about a million dollars; hence investors in partnership with their local and foreign collaborators are needed.

He explained further that the Commission foresees an electricity industry where there will be adequate power supply which would lead to lower pricing. Presently, the reverse is the case, which is why the public outcry on the tariff has been heard.

He said the real question was on making the market friendly for the right investors. On the Commission’s part, effective regulation is regarded as one that   listens to the voice of the people. According to him, NERC seeks the active participation of the civil society groups.

The representative of the South West civil society coalition, Adewale Adeoye declared that there is a significant link between human right and energy provision that makes the civil right content of the energy sector imperative.

Adeoye informed that JODER called the meeting   because it needed to engage the Commission to work out avenues for redress to several complaints of human rights violation experienced in the sector.

‘’ We have seen a situation where Nigerians cannot challenge the authorities in the power sector even when their rights are brutally violated’’ he said.
The groups left the meeting with a resolve to form a coalition that would curtail exploitative actions by the new owners.

Maryam Yaya Abubakar - Head, Media