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The Nigerian Power Sector Reform, which was set in motion in 2005 by the enactment of the Electric Power Sector Reform Act, has been regarded as Africa’s largest privatisation exercise to date. The reforms have opened up the Nigerian Electricity Market, which had been managed solely by the Nigerian Government, to private participation, hence, creating immense opportunities for intending participants.
Segun Sowande, Management Consulting Partner and Power expert, KPMG Nigeria will be our guest on ‘Lunch with Our Leaders’ on Thursday 27th of March to discuss The Emerging Trends in the Nigerian Power Sector.
Segun has over 22 years of professional experience specialising in strategy articulation and transformation, project management, diagnostic reviews, organisational design and redesign, change management, business process review and improvement, process re-engineering, public sector reforms, systems design and implementation, feasibility/market analysis, studies, assessment and research.
He has provided varied advisory services to most of our clients operating in the public and private segment of the Nigerian economy, the West Africa and Africa. He is the Lead Partner in KPMG’s Power Sector group and has extensive experience in serving Infrastructure and Public Sector clients and delivering value adding results.
He has also demonstrated his expertise in project and business management skills, acquired from various local and off-shore training and from hands-on experience in leading/managing client projects in varied industries including the power and utilities space.
Some emerging trends in the Nigerian Power sector:
- The Nigerian Electricity Regulatory Commission (NERC) has recently issued about 70 licenses to Independent Power Producers in order to improve the power situation in the country.
- The National Integrated Power Project (‘NIPP’) is an integral part of the Federal Government’s efforts to combat the power shortages in the country. There are 10 National Integrated Power Projects (NIPPs), with combined capacity of 5,455 MW, scheduled for completion (for ongoing projects) and privatization in 2014.
- The Federal Government has set aside N50 billion in escrow accounts in 3 Nigerian Banks to serve as a buffer for losses that GENCOS may suffer in the course of power transmission.
- The players in the Nigerian electricity market are often referred to as market participants. In order to carry on business as a market participant, it is imperative that such entity(ies) obtain the appropriate licence from the Nigerian Electricity Regulatory Commission (NERC).
The above points and more makes the Nigerian power sector an investor’s choice! Join us, ask your questions and post your comments as it relates to Power in Nigeria.
We look forward to you joining the discussion with Segun on Thursday.
Time: 14:00 to 15:00 (CAT)
When: Thursday, 27 March 2014
In case you can’t join us for that hour and you have a question, simply send it in an email to email@example.com and we’ll help ensure the question is posted on your behalf.