Some experts in the energy sector have urged the President-elect, Bola Tinubu, to come up with an agenda that would ensure quality governance and to be consistent with tested economic principles.
They gave the advice in separate interviews with journalists in Lagos on Wednesday.
President of Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr Debo Ahmed said the immediate problem in the energy sector is the perennial fuel scarcity and its attendance price increase, despite government payment of subsidy.
Ahmed urged the incoming government to either adjust the price upward or remove the subsidy.
According to him, subsidy removal can be an immediate or a planned removal to enable the government plan enough ahead.
“Refurbishment of some coastal; inland depots and pipelines is necessary, to ease bridging and also make real time supply affordable.
“We learnt the Port Harcourt refinery will be on around the middle of the year 2023.
“At least with the coming of Port Harcourt Refinery and that of Dangote Refinery, our local consumption will be partially met.
“Massive product importation to quell this scarcity and prices to adjust itself.
“Crude oil theft must be curtailed and perpetrators must be sanctioned to deter others from going into the illegal practice,” he said.
Ahmed said that crude oil theft reduces national earnings, preventing the nation from meeting up with its financial obligations.
He called for revamping of Warri and Kaduna refineries as well as the moribund 21 NNPC depots.
The IPMAN boss said that all transporters and bridging claims outstanding with Petroleum Equilasation Fund (PEF), should be paid so that the government could start on a clean slate.
He said that energy crisis should be systematically studied to find a lasting solution.
According to him, the crisis has outlived many governments and therefore became intractable.
An oil and gas consultant, Mr Joe Nwakwue urged the government to accelerate and faithfully implement the Petroleum Industry Act (PIA) 2021.
Nwakwue also said that the incoming administration could fully liberalise the downstream and boast domestic refining.
He urged the next government to achieve net exporter status for refined products within the first three years of its administration and also drive gas-based industrialisation.
“We hope the incoming administration will implement the autogas policy and permanently address Joint Venture (JV) funding.”
Executive Director and Convener, PowerUp Nigeria, Mr Adetayo Adegbemle said that the past eight years stand out, especially with significant investment in the power sector.
According to him, such investment should be sustained.
Adegbemle said that metering under National Mass Metering Programme (NMMP), where over five million promised meters are still pending, should be expedited.
He advised that the investment and installations under Transmission Company of Nigeria (TCN) should be completed.
He urged that Siemens Project should be reviewed by an independent body or committee.
“We have also seen a lot of changes in the distribution subsector, maybe at this point the escrowed account can be released back to the DisCos with mandate on market settlement.
“There could also be full implementation of bilateral contract between DisCos and GenCos.
“And definitely, the regulatory independence of Nigeria Electricity Regulatory Commission (NERC) should be the base of the continued reform that we undertake,” he said.