BEVERLY HILLS, July 18, (THEWILL) – The Speaker of the House of Representatives, Hon. Yakubu Dogara, has stated that Nigerians annually
spend an estimated $5 billion to power their generating sets, assuring that the House would support the Executive to find a lasting solution to the power problem.
Dogara, who spoke on Tuesday at a public hearing by the House Committee on Power, stated that the whopping sum being expended by individuals and businesses to generate power was highly detrimental to economic growth.
Discribing the situation as highly unacceptable, he stated that the National Assembly was reviewing some of Nigeria’s energy laws in order to provide the appropriate legal framework that would facilitate the exploitation of renewable energy to the benefit of the Nigerian economy.
The Speaker said, “Power is arguably the single most important driver of the national economy. Indeed, it is difficult if not impossible, to imagine modern life without power. Our industries and factories need electricity to run; and so do our offices, homes and businesses.
“It is estimated that Nigerians spend about five billion US Dollars yearly to fuel their generators. This is an unacceptable situation and the House of Representatives stands ready to support the Executive arm of government to put a stop to this state of affairs.
“Renewable energy is a source of clean energy, which is environmentally friendly and is crucial to the economy of the future.
“We can only be self-sufficient in the energy field when we combine all of our energy resources such as wind, solar, hydro, biomass, bio-fuel, landfill, sewage gas, solid waste, geothermal energy, ocean energy etc.
“Renewable energy sources are natural and often replenishes itself. Nigeria needs to invest more in renewable energy as fossil fuel is a diminishing asset.
“An appropriate legal framework to exploit renewable energy, which is nature’s gift to mankind, is not adequate in Nigeria. This makes it difficult to organise the sector in a commercially viable matter. Herein lies the merit and strength of this Bill under consideration.”
Dogara disclosed that the eighth House had, in its inception, committed itself via its Legislative Agenda (2015-2019) to come with a legislative initiative on power.
The three bills being considered by the House include: “A Bill for an Act to provide for the utilisation, sustainability and adequate supply of renewable energy for electricity and heat generation and for other related matters; a Bill for an act to amend the National Electricity Regulatory Commission metre reading, billing and cash collection and credit management for electricity supplies and regulations to address matters relating to outstanding liability of electric bills in rented apartments and a Bill for an Act to amend the Electric Power Sector Reform Act to reposition the Nigerian Electricity Regulatory Commission for effective service delivery.
