How Nigeria can enjoy stable power supply, Olawepo proffers solution.
Abdulrazaq O Hamzat
www.mrrights.com.ng

From one administration to the other, the search for a stable power supply in Nigeria continues to pose serious challenge to the giant of Africa. And yet, without stable power supply, it is almost impossible for any nation to attain development. This explains why most developed nations are those with stable power supply, while the under developed nations are those with inadequate power supply.
It is no longer news that Nigeria’s power supply is nothing to write home about. Despite the huge investment in power generation as well as abundant gas deposit in the country, the inability of the Nigerian government over the years to effectively coordinate the process of generation and distribution of power has continued to cast dark light over the country. Also, the involvement of independent power companies is yet to make desired impact due to the bureaucratic hindrances frequently experienced by these private companies.
At a time when Nigerians expect improvement in the rate of power supply in the country, reports of Nigeria’s power generation dropping to 1,580.6 MW hits the nation like an arrow. This is in spite the act that, generation capacity had inched up to 4,387 MW last Friday, after crashing to 2,800MW prior to that from a peak of 5000MW due to gas pipeline vandalism, according to Nigerian Electricity Regulatory Commission.
The latest drop has set the social media on fire, as Nigerians continue to bash the Minister of Power, Barrister Babatunde Fashola and the President Buhari administration.
This led us to the question, how can Nigeria enjoy stable power supply?
Mr Gbenga Olawepo Hashim, Chairman of Bresson Energy Limited has the answer ready.
In November 2015 while speaking on the topic: “Nigeria: Facilitating resilient and sustainable infrastructural development, Olawepo urged the Federal Government to “make Sovereign Guarantee available to all Power Purchase Agreements that the Nigeria Bulk Electricity Trading Company concludes and with the requisite 90-120 days LC to ensure bankability of such agreements.
He said, ‘’For Nigeria to enjoy stable power supply, it must dismantle the delay in licensing of Independent Power Projects and the signing of Power Purchase Agreement through an executive guideline for the industry that defines Standard Operating Procedures for agencies and institutions.
Gbenga Olawepo-Hashim, who spoke at the annual lecture of the Nigerian Student Society, Imperial College, London said, processing license applications and signing of PPA should not take more than three months to four months.

According to him “Currently, it takes two to three years when, in fact, a complete power plant could be delivered between 18 and 24 months.”, adding that, when distribution companies and eligible customers are licensed, “they should be able to sign PPA with the Generating Companies and IPPs for the supply of power without the undue meddlesomeness of the Nigeria Electricity Regulation Commission. This is the provision of the Electricity Sector Reform Act, and this is what it should be.”
He stressed the need for more attention to be paid to sanctioning operators, particularly in the distribution sector, especially those who have not delivered on the terms of purchase of their network as the entire value chain depends on effectiveness at this level.

In contributing to the efforts of the federal government in ensuring stable power supply in the country, Olawepo revealed that his company, Bresson Energy is set to add 500 megawatts to National Grid.

Olawepo while briefing the Vice President said the megawatts to be generated will come from Bresson Initiative and its Magbro power plant in Ogun state.

He said the capacity which will be available in phase 1 from second quarter of 2017 will represent 10 percent of the current available national capacity.

According to reports from the state house, the Federal Government’s efforts to increase power generation capacity has received a boost as Bresson Nigeria Limited is set to add 500 megawats to the national grid by 2017. The good news was unveiled at the State House during a courtesy call on Vice President Yemi Osinbajo by a team of Bresson Nigeria Limited led by its chairman, Mr Gbenga Olawepo – Hashim.

The Vice President, Prof Yemi Osinbajo, who was also at the imperial College in London last November as a special guest of honor when Gbenga Olawepo was making his submission about the route to stable power supply in Nigeria told the team of investors who visited him that, the administration is committed to remove all bottlenecks hindering investor’s in the power sector.

He also commended Bresson Enegy for the integrated nature of its power projects developing a model of fuel sufficiency by also investing in Gas Production.

Gbenga Olawepo also praised the Buhari administration for removing bottlenecks associated with signing of power purchase agreements, informing the Vice President that the Minister of Power approved the agreements without delay and without waiting to be lobbied .

Describing the new style as commendable, Olawepo noted that the new development will attract more investors and fast track the administration efforts to provide adequate power supply to the citizenry.

While assuring that the President Buhari administration is working to ensure regular supply of gas to the power plants and efforts are on to attract investment into this sector, the Vice President said Bresson integrated model in power generation is a good model.

“We shall support you and other genuine investors with recognizable foot print but we shall monitor you closely to ensure you adhere to your schedule”, he said.

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