By Aniefiok Christopher
The Acting Managing Director of Ibom Power Company, Engr Camillus Umoh says Nigerians are all partakers in the sin of not paying for power already generated, transmitted and distributed to the end users.
Engr Umoh, a former Commissioner for Power made the revelation known this Monday, when he conducted journalists on a clarification visit to Ibom Power Plant at Ikot Abasi Local Government Area of Akwa Ibom State.
The Managing Director revealed, against all odds, that the Power Plant is presently generating 82 megawatts of power daily, that is eventually transmitted to the national grid, through the power value chain in the country.
Conducting journalists round the plant, the MD, accompanied by the Company Secretary, Barr Ime Asibong, the Plant Manager, Mr Aniefiok Sunday and the
HSE Manager, Mr Iniobong Udofia said electricity consumers who bypass their prepaid meters or consume power without commensurate payments, have contributed to the problems in the sector, where the players are struggling with widespread energy theft, admist issues of vandalism.
According to him, meter bypassing is undermining the financial stability of the sector, adding that the percentage of the energy invoices that Gencos have received in the past 24 months, is between 30-35%, arising from the collection shortfall by the distribution companies.
Speaking further he said "And because there's a collection shortfall by the distribution companies and the inability of the Federal Government to fulfill its commitment in terms of subsidy payment, these have created gaps, contributing to the N6.3 trillion debt owed the power sector in the country.
The former Commissioner revealed that available data from PHED indicates that only 59% of citizens in the country are metered, thereby causing shortfalls in terms of payment, explaining that power has moved beyond its social service status to an investment that diligently requires return on investment in order to be sustained.
Hinting that investment required in the power sector is humongous, coupled by accumulated debts, due largely to nation's level of development, issues of vandalism and sabotage on the assets already on ground, these challenges have prevented investors who would have loved to be players in the power sector, because one cannot continuously fund a system that cannot guarantee them a return on investment.
To address the problems, Engr Umoh said the State Government had after her first electricity summit, is putting up the regulatory and legal framework for the emerging electricity market in Akwa Ibom, admitting that the process may take a while.
He disclosed that the new State law on electricity has made it mandatory for all new buildings that must be connected to the national grid, must of necessity have a meter, because that's the only fiscalisation instrument and equipment that guarantees a return on investment.
He listed the commitment of the State Government to tackling the issues in the sector as a boost to surmounting the power challenges in the State, adding that such means a lot to the future of steady power supply in the State.
Describing Power as a condition precedent for development, the former Commissioner who has spent ten months on the saddle as the M.D of Ibom Power, explained that power has a multiplier effect on all other forms of development indices like education, health and good standard of living.
On what the State is doing to reduce the power problems in the State, the MD said the present administration is gradually settling the backlog of debts owed players in the sector, among other things being put in place create power for all, while calling on the citizens to take active part in the sector.
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