Lagos — The Nigerian power sector will remain undeveloped if consumers are unwilling to pay for the power that they consume, according to Yusuf Usman, Chief Operating Officer (Gas and Power), Nigerian National Petroleum Corporation, NNPC.
He made the statement in a release on Wednesday in Abuja.
He therefore called on consumers to be willing to pay for the power they consume in order to encourage investors in the sector.
“The problem of gas in Nigeria is not pricing but collection” Usman stated.
According to him, the inability of the power distribution companies to collect payments for power supplied jeopardizes the bankability of power projects.
“We can only deliver power to off-takers if there is a power purchase agreement, PPA. Consumers need to pay for power consumed.”
In his own remarks, Mele Kolo Kyari, Group Managing Director of NNPC acknowledged that Nigeria is power deficient which leads to poverty among the populace.
He stated that it is the intention of government to deliver power citing the various power projects earmarked for Abuja, Kaduna and Kano.
“This country is open for business. And it is for the peace and prosperity of the country” Kyari said.