The Federal Government has clarified that the Electricity Act has created fresh opportunities for electricity provision through partnerships between the public and private sectors.

Ahead of the Nigerian Energy Conference, Minister of Power, Chief Adebayo Adelabu, affirmed the government's commitment to supporting endeavors that attract investments to the electricity industry.

Adelabu, represented by Mrs. Evangeline Babalola, Director of Investment and Sector Development, indicated that a forthcoming forum will establish investment guidelines for the sector by year-end. He stated that to incentivize greater investment in the sector, they have implemented import duty exemption certificates for both existing and potential investors.

Addressing the need to bridge the gap between the power sector and gas suppliers, Dr. Joseph Tolorunse, Secretary/Legal Adviser of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), pointed out key challenges.

He highlighted the lack of gas supply infrastructure and issues related to gas pricing caps as obstacles to powering gas plants. Dr. Tolorunse explained that gas producers often prioritize exporting gas for higher revenue. While they can do so, a certain volume must be reserved for the domestic market under domestic gas supply obligations. However, the challenge lies in infrastructure for moving the gas and setting the pricing cap.

Ade Yesufu, Exhibition Director of the Nigerian Energy Conference, emphasized the event's significance over the past decade in driving investments and solutions within Nigeria's energy sector. He revealed that the conference, scheduled for September 19-21, 2023, is set to facilitate multi-million dollar agreements involving entities like the World Bank, African Development Bank, and numerous global financiers.