Economy
A power expert, Mr Kola Balogun, has commended the Senate for passing the Electricity Bill, 2022, adding that it would help to address the incessant collapse of the National Grid.
Balogun, who is the Chairman, Momas Electricity Meter Manufacturing Company (MEMMCOL), made the assertion in an interview with the News Agency of Nigeria (NAN) on Friday in Lagos.
NAN reports that the Senate had on July 20, passed the bill after the consideration of a report by the Committee on Power.
Balogun noted that the passage of the bill, which would allow people to generate power, would liberalise the entire structure of the national grid which suffered another system collapse on Wednesday.
“All over the world, they have decentralised the structure of grid system so it is a welcome development.
“This is the best thing that can happen to the power sector reforms and the Nigerian Electricity Supply Industry (NESI),” he said.
According to him, the bill will give people confidence to invest in the sector for self generation and exclusive generation that can be channeled towards industries and the manufacturing environment.
Balogun said it would allow states,local governments and even communities to generate and consume their own power which would foster competition and socio-economic development.
“This bill will put an end to the incessant collapse of the national grid because even if there is any fault, it will not result in total system collapse as we are witnessing now.
“It will only be limited to a particular area and if it continues, the people being affected will have alternative to switch from that location to where they can get better supply.
“This means the consumers will no longer feel the impact of the grid collapse,” he said.(NAN)
A.I
Tags: Electricity Bill Momas Electricity Meter Manufacturing Company Mr Kola Balogun
