Authors : K.I. Idigbe and S.O. Onohaebi
Abstract: Nigeria is endowed with reserves of natural gas in excess of 200 Trillion cubic feet (Tcf), to thermally generate enough power for all sectors-home, commercial and industries. While, there is no doubt about the high demand for electricity in Nigeria, the power industry has being marginally functional. This study reviewed the present state of the power industry in Nigeria and investigated the modalities of re-positioning power to guarantee reliability in operations and services. The findings showed that a collaborative and mutually beneficial business initiative with the petroleum industry is desired and should be encouraged and sustained. Power should be classified and traded as a commodity through a private value market, with greater emphasis on best practices in operations and asset management, a free market oriented supply side management structure should be put in place and service contract financing with Construct, Commission, Operate to recover costs and Lease (CCOL) scheme option is desired for all projects in the power sector.
K.I. Idigbe and S.O. Onohaebi, 2009. Repositioning the Power Industry in Nigeria to Guarantee Reliability in Operations and Services. Journal of Engineering and Applied Sciences, 4: 119-125.