President of LCCI, Mr. Goodie Ibru,

By Crusoe Osagie

The Lagos Chamber of Commerce and Industry (LCCI)’s latest survey has shown that electricity supply improved by an average of 35 per cent in most parts of Lagos over the last three months, but was skeptical of government’s ability to sustain steady improvement.

According to the President of LCCI, Mr. Goodie Ibru, who spoke to THISDAY, the power improvement was a good development for Nigeria, especially for business concerns that have to deal with high cost of production induced by alternative source of energy.However, the Chamber observed that “while the administrative blocks of most businesses are now connected to the PHCN, major manufacturers are yet to switch their production lines to the public power supply, because of sustainability concerns.”

In order to successfully build on the current tempo, Ibru challenged the government to sustain the gas-to-power framework, stressing that the joint venture gas supply agreements with oil companies must be firmed up in order to ensure regular gas availability for the nation’s existing and upcoming thermal power stations.

“The next minister of power should be a sound technocrat capable of sustaining the ongoing power sector reforms and build on the successes already achieved. The privatisation of the power sector must also be pursued with vigour and transparency. When the plants and distribution network are privatised, it would be easy for the companies to get financial support from banks and funding partners,” he said.

Ibru said it was imperative for the National Electricity Regulatory Commission (NERC) to urgently address growing concerns over the outrageous bills to consumers.