THE NIGERIAN ELECTRICITY REGULATORY COMMISSION
FINANCING AND INVESTMENT OPPORTUNITIES
Dr. Ransome E. Owan Chairman & CEO
THE NATIONAL WORKSHOP ON ELECTRIC POWER LIBERALIZATION, FINANCING/INVESTMENT
LAGOON RESTAURANT, LAGOS
MARCH 30, 2006
OLD ELECTRICITY INDUSTRY STRUCTURE
Vertically Integrated Utility (erstwhile NEPA, now PHCN) generates, transmits and distributes electricity. FGN funding and loans.
PHCN-system operator but poor revenue collection.
High system and non-technical losses, investment shortage and non-commercial processes and procedures.
Result – Poor electricity supply, poor service, resource inadequacy and inability to meet growing demand.
All these problems necessitated a fresh start which was conceptualized in the sector reform process since 1999.