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By Nkechi Isaac
Leadership Newspaper, Mar 24, 2015

Stakeholders in the science and technology sector have called on the Federal Government to muster the political will needed to promote active private sector participation in the energy sector by signing the reviewed National Energy Policy and its masterplan into law.

Speaking during a presentation at the 2015 National Energy Summit with the theme, ‘Energy and the Transformation Agenda is Timely and Appropriate’ organised by the Energy Commission of Nigeria (ECN), in Abuja, the Director-General of the commission, Prof Eli Bala, underscored the need for capacity to meet demand for sustainable energy in Nigeria, which he said would continue to grow in view of the growing population and the desire for fast industrialization.

He said opportunities for investment in the production, transmission and distribution of electricity, fuels and process heat, from the varied and huge sources of energy in the country were enormous and stressed the need to strengthen the energy regulatory agencies and the commission in order to have successful post deregulated and liberalized energy sector of the economy.

He said, “Statutory incentives are available but need to be enhanced  to attract investments in the energy sector so that the economy can grow to be amongst the 20 largest economies in the world by 2020 and thereabout.”

The president of the Nigerian Academy of Engineering, Prof Rafiu Salawu, in his remarks, said the summit provided a platform for stakeholders to share their experiences and appraise the sector to facilitate it to deliver on its mandate.

He said, “The importance of adequate and secured energy supply in meeting our socio-economic development as well as in keeping our heads high amongst community of nations cannot be overemphasized. Proper policies, good plans and implementation road maps for effective and sustainable development of our energy sector is imperative.”

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