Connect with us

Economy

NASS, NERC to partner on legal framework to protect investment in power sector

Published

on

NASS, NERC to partner on legal framework to protect investment in power sector

The National Assembly (NASS)  says it is working with the Nigerian Electricity Regulatory Commission (NERC) to put in place a legal framework that will protect investment in the power sector.


Sen. Gabriel Suswan, Chairman, Senate Committee on Power, stated this in Abuja on Monday when he led members of the committee on an oversight visit to NERC Headquarters.

Suswan said that what was in place was a Reform Sector Act which was put together by NASS in 2005 to enable government to privatise the electricity entity.

“We have gone beyond privatisation, there has to be an Electricity Act for the country that will touch on the issue of energy theft, how people will be sanctioned and those that bypass meters.

“And it will also create that environment that gives potential investors assurance that their investments are protected.

“Beyond the Reform Act, issues have cropped up that needed to be addressed, so we need a legal framework that will put in place enabling environment for potential investors.

“To have a sense of protection and NERC is supporting us on this project,”he said.

Suswan appealed to NERC to halt the implementation of the hike in tariff, saying that NASS was not opposed to the proposed increase in electricity tariff, but the timing of the exercise.

He said that it was better that the Federal Government took the burden of the hike instead of Nigerians within the period, as the sector awaited the activation of the service reflective tariff.

“Within this period,  you could have taken some major decisions on the issue of metering which is very central. We at NASS are all informed of the challenges in the sector.

“So, we say tarry a while to allow Nigerians recover from COVID-19 pandemic.  We will continue to appeal to you and give you all support so that we will not be solving one problem and creating a political problem.

Susan, while commending NERC on the good job it was doing, said that the visit was for the committee to have a first hand information on the challenges faced by the regulator.

He said there was need to provide a conducive working environment for the commission to make them perform better in the regulatory function assigned to them.

Earlier the Chairman of NERC, Prof. James Momoh, said there was need to review the Electricity Act and Policy of government to make things work.

Momoh said that a mechanism had been put in place to absorb the masses of the adverse impacts of the electricity hike.

“It is not going to affect the poor. We will make sure that the downtrodden and the people you feel for at the moment will not be affected by any increase we will be bringing forth.

“It will be based on the hours of service and the quality of power available there.  We don’t want the poor to subsidise the payment of the rich.

“In other words, we must make sure that the poor are not sacrificed in the process of tariff increase,”he said.

Edited By: Remi Koleoso and Abdullahi Yusuf (NAN)

Constance Athekame: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Juventus give Pirlo his first manager’s role 332 evacuees arrive Nigeria from London – NiDCOM Lewandowski dazzles as Bayern crush Chelsea to reach last eight Messi helps Barcelona sink Napoli to reach last 8 COVID-19: Lagos discharges 27 Nigerians, 5 foreigners Amosun pays tributes to late Kashamu Buhari mourns Kano businessman, Shehu Rabi’u Abiodun, Obasanjo mourn Kashamu Delta PDP returns Esiso as state chairman  Senate President Lawan sponsors wedding for 300 less-privileged, orphans in Yobe  Niger Govt. seeks establishment of Naval base to tackle banditry Makinde mourns PDP chieftain 2023: We can’t be distracted, political gladiators must exercise restraint -Okowa Nasarawa Assembly to appeal judgement nullifying former SSG’s indictment INEC inaugurates election result viewing portal New Nasarawa NMA Chairman pledges to eliminate quackery BUK Council approves appointment of Abbas as new VC A’Ibom govt discharges 26 COVID-19 patients from isolation centre Ex-minister Babatope, says shattered by Kashamu’s death Buhari mourns ex-Federal Commissioner, Olumide NEPZA key to national economic recovery – MD Osinbajo visits Ajimobi’s widow, pays tributes to late governor LAWMA arrests 13 cart pushers for environmental laws violation Nasarawa Assembly accuses LG Chairman of insubordination Ize-Iyamu: Sack your governors, senators facing corruption charges, Presidency tells PDP Congress: Abia PDP elects new executive 2023: I will not choose my successor- Gov Umahi declares Climate change: Group tasks communities, schools on tree planting Exam malpractice: COVID-19 will check ‘giraffing’ among students — Umahi PDP Congress: Nnamani, others return unopposed in Enugu  Insurgency: Ndume solicits community, political leaders support for military Killers of village head, Immigration officer arrested in Nasarawa – Gov. Sule Don’t bottle-feed your children, practice exclusive breastfeeding, Abia Govt official tells mothers Mobile Police training school will enhance security in Nasarawa- Gov. Sule Edo 2020: APC admonishes supporters against violence COVID-19: Kwara receives N100m grant from W/Bank FG begins feasibility study for Brass Shipyard project Judicial system integrity pivotal to all spheres of society -Osinbajo INEC appoints new REC, Administrative Secretary for Bayelsa Katsina State  Govt urges communities to provide intelligence information on banditry, criminal activities Human rights activist calls for action to stop killings in Southern Kaduna Expert urges shipowners to negotiate with AMCON to forestall foreclosure FG spends N14bn on CCT, school feeding in Jigawa within 29 months PDP supporters in Dogara’s hometown defect to APC, say former Speaker, their ‘political godfather’ Rotary Club plant trees against climate change impact in Abuja NiDCOM chief mourns basketball player, Michael Ojo Beware of scammers, Ekiti varsity cautions admission seekers Senate President sponsors marriage of 100 less-privileged spinsters in Yobe, 200 more to benefit Edo 2020: Oba of Benin calls for peaceful campaigns, election NAF commissions 114 medics, as President Buhari demands absolute loyalty to Nigeria