Art and Culture

Nigeria’s Power Sector Births Premier Award Programme

todayAugust 16, 2022 1

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Peter Uzoho

For the first time since the existence of the Nigerian Electricity Supply Industry (NESI), an award programme has been birthed to recognise achievements in the power sector and also push for its further growth and development.

Organised by the Nigeria Power Sector Awards Limited, the maiden edition of the NESI’s premier award programme has been scheduled to hold in Abuja on November 23, 2022.

Announcing the programme in a statement issued yesterday and signed by the Director of Marketing and Sponsorship, Racheal Salehu, the organisers said the awards aims to achieve three broad objectives. These it listed to include to reward and incentivise organisations and individuals, who have contributed in measurable ways to the improvements, growth and progress in the sector.

The award, it further explained, would also catalyse further improvements, growth, innovation and progress in the power sector; and to transparently highlight the improvements and growth achieved within the power sector in order to change the negative public opinion about the power sector, which has become a hindrance and constraint to attracting much needed long term investments in the power sector.

The organisers added that the programme would celebrate the efforts and achievements of deserving public and private organisations and individuals across the entire NESI value chain and the renewable energy/off-grid sector.

It stated that the award would beam the spotlight on the innovation, growth and progress achieved by the organisations and individuals, highlighting their efforts and achievements within the power sector since the conclusion of the power sector privatisation.

In addition, according to the statement, the power sector awards would provide a unique platform for networking, stimulate top level interactions and deepen collaborations within the power sector.

“The awards will bring together key stakeholders, top-level state government officials involved in the power sector at sub-national levels, top officials from Nigeria’s power and energy sector, ministers and top government officials in the power sector ministries and regulatory organisations, top level members of the National Assembly, of banks, financial institutions, development finance institutions and private equity infrastructure funds that are power sector focused, core investors of Gencos and Discos, amongst other high-level dignitaries expected to attend the awards.”

The organisers said the broad award categories were structured to highlight and recognise every segment of the NESI including Electricity Power Generation Category, Electricity Distribution Category, Independent Power Provider of the Year (Captive Generation), Most Innovative Power Technology Category, Renewable Energy Category, and Gas Supply Company of the Year.

Other award categories included:  Transaction/Deal Category, Public Sector Organisation of the Year, Development Finance Institution of the Year, Bank/Financial Institution of the Year, Best State Government in the Power Sector, and the Lifetime Achievement Awards.

According to the statement, there would also be a posthumous award to be given to the Late Engr. Joseph Makoju, whose contributions and achievements in the power sector was exceptional in developing the NESI.

The unbundling and privatisation of the Nigerian power sector was concluded since 2013.

However, due to a myriad of challenges, the power sector has not yet delivered on the envisaged benefits of privatisation in terms of reliable electricity supply.

In spite of the challenges bedeviling the NESI, the award organisers argued that the power sector has undoubtedly achieved measurable but modest progress and improvements since the conclusion of the privatisation.

Maintaining that the sector was on the path of growth, the award planners said it was unfortunate that the improvements and progress were often overshadowed by challenges in the sector.

“We believe that it is time to highlight, showcase and celebrate the improvements and progress so far achieved within the power sector, in the form of an annual power sector award event.

“It is on this basis, that we are organising the Nigeria Power Sector Awards, which we intend to become the premier power sector award event in Nigeria.

“Nominations for the respective awards are currently open and will close on the 30th of September 2022.

“In conclusion, we are very excited to recognize the growth in the power sector and we are pleased to pioneer this remarkable award event. Despite the current challenges in the sector, we are determined to celebrate the modest improvements, progress and innovative strides within the sector every year in order to achieve the objectives of power sector privatisation,” the organisers added.

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