VP Sambo, others to speak at WorldStage power conference
As Nigeria recorded the biggest success in the privatization of PHCN successor companies on Wednesday, August 21, with bidders completing the full payment for the assets, the stage is set for the WorldStage National Electricity Power Conference (WNEPC) 2013 in Lagos on September 24, where the Vice President, Arc. Namadi Sambo (GCON) will deliver the Keynote and State of Electricity Power Address.
With 13 preferred bidders meeting the August 21 deadline for the payment of the remaining 75 per cent of their bids for the power generation and distribution firms, which translated to about $2.238 billion, the private investors are now expected to take over the assets shortly.
The Chairman/CEO of Nigerian Electricity Regulatory Commission (NERC), Dr. Sam Amadi, is scheduled to present a paper, 'Power Sector Liberalisation and Regulatory Challenges' at the WNEPC 2013 (http://worldstagegroup.com/media/20189247885860.pdf). He is expected to give the new investors and the general public the assurance of the capacity to provide effective regulation of the industry by his commission.
Moreover, the conference with the theme: 'Moving Nigeria's Electricity Power Sector Forward', according to the organisers, would be the first opportunity for the new private investors in power to present their rollout plans to the public.
Mr Segun Adeleye, President/CEO, WorldStage said what has just happened with the success of PHCN privatisation may turn out to be the most significant development in Nigeria in the last 53 years, as the economy would start feeling the private sector dynamism in power generation and distribution.
He said: 'With the handing over of the power assets expected any moment from now and the potential to grow a new set of multibillion businesses that would rival, if not surpass what we currently have in the telecoms, the multiplier effects on the economy in terms of productivity, capacity utilisation, SMEs growth among others can only be imagined.'