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WorldStage announces new date for 2023 Economic Summit

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*As Danbatta headlines breakout session for Startups on WorldStage

A new date of November 16, 2023 has been announced for the WorldStage Economic Summit (WES) at the Event Centre, Nigerian Exchange Limited, 2/4 Customs Street, Lagos by 9.00 AM.

The summit with the theme ‘National Dialogue on Electricity’ will attract stakeholders in the Nigerian Electricity Supply Industry (NESI) which are the Federal Ministry of Power, Nigerian Electricity Regulatory Commission, Electricity Generation Companies (GenCos), Transmission Company of Nigeria (TCN); Electricity Distribution Companies (DisCos); Nigerian Bulk Electricity Trading Plc; Gas Aggregator Company of Nigeria; Nigerian Electricity Management Service Agency (NEMSA), consumers among others.

Mr Segun Adeleye, President/CEO, World Stage Limited, the organizers of the summit in a statement said the new date was important to ensure the participation of the newly appointed Minister of Power, Mr Adebayo Adelabu and Minister of State for Petroleum Resources (Gas), Mr  Ekperikpe Ekpo who are major stakeholders in the electricity business.

He confirmed that there will be a special breakout session of the summit tagged Startups on WorldStage  with the Theme: ‘The Game Changers’ which will attract the Executive Vice Chairman of NCC, Prof. Umar Danbatta as Guest of Honour to present a key note address; Mr. Tim Akano, CEO, New Horizons Nigeria; Mr. John Tani Obaro, Group Managing Director (GMD), SystemSpecs Holdings, Nigeria among others.

Stakeholders in the Nigerian economy have been taking stock of the recently signed Nigeria Electricity Act 2023 by President Bola Tinubu with the hope that it will address the multifarious challenges across the electric power sector.

The National Dialogue on Electricity is coming at a time when the NERC is actively engaging the 11 successor DisCos on their request for tariff review, as many consumers are alleging extortive practice of estimated/arbitrary billing while calling for an effective metering plan and fair deal.

The World Stage boss said the issues in the power sector are inexhaustible going by the frustration of the operators and the concerns of consumers including manufacturers that put their annual economic loss to epileptic power supply at about N10.1 trillion or two per cent share of the country’s Gross Domestic Product (GDP).

He said while the electricity industry is characterized by huge supply-gap due to dilapidated power infrastructure and poor distributions networks, the new electricity act could be the game changer moreso when the federal government has affirmed to treat adequate energy as a topmost national economic priority.

Adeleye said the  dialogue will be open and frank for all stakeholders in the economy to deliberate on issues such as Meeting Power Transmission Needs; A sustainable electricity pool; Enforcing Technical Standard & Regulation, Inspection, Testing and Certification; Meeting the Nation’s needs across entire spectrum of energy value chain; Maintaining balance in gas supply for power generation; Meeting the Electricity Transmission Needs, The renewable energy option; An enabling environment for power generation; Sustainable tariff for electricity supply; Sustainable power supply with PPP; Achieving Energy Sufficiency With Equitable Local Content; Consumer protection; Attracting the right investments to the electricity sector, among others.

The WorldStage Economic Summit is conceived to address economic challenges through diagnoses and application of practicable solutions with public and private sector engagement in a research and innovation driven platform to inspire new thinking in business initiative, policy formulation/implementation, economic reform and development.

WES 2023 is the 11th in the series of conferences by WorlStage while enquiries for participation can be made through worldstage2004@gmail.com.

 

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Energy

Minister of Power, Adelabu Champions Mini-Grids Amid Northern Power Crisis

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In the wake of a prolonged power crisis impacting Northern Nigeria, Minister of Power Adebayo Adelabu visited the Zawaciki 1MWp mini-grid project in Kano, underscoring the potential of decentralized renewable energy solutions to alleviate regional power shortages.

The project, operated by Bagaja Renewables, provides daytime electricity to the Gida Dubu community, offering a vital source of power as the region faces widespread blackouts.

READ MORE: BREAKING: NPF Arraigns VDM Over Impersonation

Sadiq Zakari, Managing Director of Bagaja Renewables, welcomed the Minister to the facility and highlighted the critical timing of the visit.

“Bagaja Renewables had the distinct honor of welcoming the Honorable Minister of Power to the Zawaciki 1MWp interconnected mini-grid,” Zakari said.

“This visit comes at a critical time, as Northern Nigeria endures a prolonged blackout, underscoring the urgent need for alternative power solutions.

The Zawaciki mini-grid has been instrumental during this crisis, providing at least 9 hours of daytime electricity to the Gida Dubu community, demonstrating the potential of renewable energy in addressing the region’s energy needs.”

Minister Adelabu praised the Zawaciki project as a model for interconnected mini-grids nationwide, noting its role as a sustainable solution for communities grappling with unreliable power supply.

“The Honorable Minister expressed admiration for the Zawaciki project, recognizing it as a viable proof of concept for interconnected mini-grids across Nigeria,” Zakari stated.

“He emphasized the importance of such initiatives and called on state governors and other key stakeholders to support efforts to decentralize and strengthen the nation’s power infrastructure.

By backing projects like Zawaciki, stakeholders can play an instrumental role in reducing reliance on the national grid and ensuring a more stable power supply for local communities.”

Zakari underscored the transformative potential of private-sector renewable energy projects in Nigeria’s power landscape.

He said, “As we have witnessed here at Zawaciki, private-sector-driven renewable energy solutions can transform Nigeria’s energy landscape. With the right policies and support, we can empower communities and enhance energy resilience, even in times of national power instability.”

In addition to the Zawaciki project, Bagaja Renewables is developing several renewable energy initiatives across Northern Nigeria. Among these are:

Barhim Estate, Katsina: A residential power initiative aimed at expanding energy access for households in the region.

Kura-Karfi Commercial Cluster, Kano: Focused on delivering clean and reliable power to commercial areas, this project aims to support local businesses and stimulate economic growth.

Kafin Hausa, Jigawa: With site fencing completed, Bagaja Renewables is preparing to begin technical design and engineering work for a mini-grid in Kafin Hausa, slated to start construction soon.

Zakari said, “These projects represent Bagaja Renewables’ unwavering commitment to building a resilient, decentralized, and renewable-powered energy future across Northern Nigeria.

“Bagaja Renewables is dedicated to collaborating with the government and stakeholders to scale up renewable energy solutions that will support communities, industries, and essential services.

“We believe that decentralized power generation is the future for Nigeria, and we are eager to contribute to a sustainable, reliable, and inclusive energy system for all.” he added

 

 

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Energy

Power Restored In Four Northern States After 10-Day Blackout

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Power has been restored across Plateau, Bauchi, Gombe, and Benue States, bringing relief to residents who endured a 10-day blackout.

The Jos Electricity Distribution Company confirmed that electricity was reinstated around 7:20 p.m. on Wednesday, prompting celebrations in Jos, the Plateau State capital, and other affected areas.

READ ALSO: JUST IN: Tinubu Appoints Major General Oluyede As Acting Chief of Army Staff

The prolonged outage was caused by the tripping of a major 330kV transmission line between Benue and Enugu states, leaving several northern states without power.

The blackout severely impacted daily life and economic activities, with residents expressing frustration over the disruption to businesses, healthcare services, and personal livelihoods.

In response, President Bola Tinubu took swift action, summoning Minister of Power Adebayo Adelabu and National Security Adviser Nuhu Ribadu to address the crisis.

Presidential Adviser Bayo Onanuga disclosed on Monday that President Tinubu directed the Ministry of Power and relevant agencies to expedite restoration efforts.

“President Tinubu is deeply concerned about the reports of vandalism and deliberate destruction of essential power infrastructure,” Onanuga said in a statement.

“The President has tasked TCN engineers with bringing immediate relief to the affected states and implementing a long-term solution to prevent future outages.”

 

 

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Energy

Nigerian Power Supply: FGN Nears PPI Completion

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The Federal Government of Nigeria Power Company (FGN Power Company) has announced significant progress in the pilot phase of the Presidential Power Initiative (PPI), which is set to revolutionize the nation’s electricity transmission landscape.

The initiative, in partnership with Siemens, aims to enhance the country’s power infrastructure through the deployment of advanced technology and equipment.

READ MORE: ‘Only Savior Created By God For Nigeria’ – Presidency Slams Obasanjo

Kenny Anuwe, the Managing Director and CEO of FGN Power Company, revealed that the installation and commissioning of eight power transformers across key locations are now complete.

The transformers have been successfully deployed in Ajah, Maryland, Apo, Okene, Ihovbor, Amukpe, Potiskum, and Birnin Kebbi, resulting in a notable increase in the transmission wheeling capacity by 569.6 megawatts (MW).

In addition to the transformers, three mobile substations are operational in Ajah, Jebba, and Kawnar Dangora, further boosting the transmission capacity by an additional 151.2 MW.

Anuwe emphasized that these enhancements are pivotal in addressing the energy needs of the country and supporting economic growth.

Looking ahead, Anuwe stated that the transmission network will be augmented by an impressive 720.8 MW, with plans to commission the remaining equipment to deliver at least another 500 MW by the end of 2024.

This strategic initiative is expected to significantly improve power distribution and reliability, marking a transformative step towards a more robust energy sector in Nigeria.

 

 

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