National News

ACCI Calls For Review Of Law Governing Power Sector

The Abuja Chamber of Commerce and Industry, ACCI, has called on the National Assembly to review the enabling law governing Nigeria’s power sector.

The President of ACCI, Doctor Al- Mujtaba Abubakar made the call at the Abuja Electric Power Roundtable organised by the Chamber in Abuja.

Doctor Abubakar said the call became necessary to effectively address the challenges confronting the nation’s epileptic electricity supply.

“Whether an omnibus bill or sectoral one, the National Assembly holds the key to drive the sector to the expected level of Sustainability and ACCI hope to fully participate at the public hearing on the electricity bills before the two chambers of the National Assembly” he emphasized.

He stated that market forces and principles should be allowed to operate within the sector noting that the industry cannot perform efficiently and sustainably if market rules are not allowed to function.

“All indices confirm that government cannot sustain continuous intervention in the sector and we believe that efficient regulatory action will go a long way to ensure that all stakeholders play their part across the value chain” Doctor Abubakar stressed

The President of ACCI also called for more private sector involvement especially in the transmission sector to strengthen the system.

According to him, the current model of a public entity sandwiched within private operators is a major issue deserving of government action.

He explained that nation needs to fully extend privatization across the sub sectors to reap the benefit of private sector driven power sector.

Matthew Ayoola/Abuja

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